Hyundai and Kia to develop vehicles with electric skateboard tech
Hyundai and Kia announced this week they will develop future vehicles using electric skateboard technology developed by startup Canoo.
Why it matters: It's the first big partnership for Canoo, a 2-year-old EV company founded by former BMW executives who fled Faraday Future.
The big picture: Big automakers like GM, as well as startups like Rivian and Arrival, are developing flexible electric skateboard architectures that can be used for everything from compact cars to delivery trucks.
- The powertrain, batteries and suspension are packaged in flat chassis that can be stretched or squeezed to support different types of vehicles.
- At a recent event, GM President Mark Reuss compared its flexible EV architecture to an ice cube tray: “You can put in as much water to make as many cubes as you need."
Of note: The deal with Canoo is also the latest in a string of interesting moves by Hyundai, which plans to invest $52.7 billion in R&D and future mobility by 2025.