Hyundai Motor and Kia Motors to invest $111m in Arrival.

Automobile manufacturers Hyundai Motor and Kia Motors, are set to invest $111m in Arrival, a smart electric van manufacturer. Arrival will work with Hyundai and Kia to develop a variety of electric vehicles, initially for the commercial market. “The eco-friendly vehicle market in Europe is expected to grow rapidly due to reinforcement of environmental regulations. Through the joint development of commercial electric vehicles with Arrival, we will be able to gain a competitive advantage and progressively establish our leadership in the global eco-friendly vehicle market,” Albert Biermann, Hyundai Motor Group President and Head of Research and Development Division.