Canoo's electric skateboard will be the basis for future Hyundai and Kia vehicles. Photo: Courtesy of Canoo
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.