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.

Go deeper: Managing data from all those dockless scooters

Go deeper

The national security risks hiding in Trump's debts

Illustration: Aïda Amer/Axios

The blockbuster New York Times report on President Trump’s taxes reveals that the president is $421 million in debt, with more than $300 million coming due during Trump’s potential second term — and the identities of the president’s creditors remain unknown.

Why it matters: If some, or all, of this debt is held by foreign actors, it raises serious national security implications.

25 mins ago - World

House report: U.S. intelligence agencies have failed to adapt to China threat

Xi Jinping and other Chinese politicians and delegates listen to the national anthem duirng the closing of the 19th Communist Party Congress in 2017. Photo: Lintao Zhang/Getty Images

The House Intelligence Committee on Wednesday released a report finding that the U.S. intelligence community has failed to adapt to the growing threat from China, arguing that it will struggle to compete on the global stage for decades to come if it does not implement major changes.

The big picture: The 200-page report, based on thousands of analytic assessments and hundreds of hours of interviews with intelligence officers, determined that the intelligence community's focus on counterterrorism after 9/11 allowed China "to transform itself into a nation potentially capable of supplanting the United States as the leading power in the world."

Updated 28 mins ago - Politics & Policy

Tim Scott says Trump "misspoke" when he told Proud Boys to "stand by"

Photo: Bonnie Cash/Pool/AFP via Getty Images

Sen. Tim Scott (R-S.C.) told reporters on Wednesday that he believes President Trump "misspoke" when he told the far-right "Proud Boys" group to "stand back and stand by" in response to a question about condemning white supremacy at the first presidential debate.

Catch up quick: Moderator Chris Wallace asked Trump on Tuesday, "Are you willing, tonight, to condemn white supremacists and militia groups and to say that they need to stand down?" Trump asked who specifically he should condemn, and then responded, "Proud Boys, stand back and stand by. But I'll tell you what, somebody's got to do something about antifa and the left."