NEWS
Hyundai and Kia plan affordable electric cars
Korean giants invest R1.6bn into electric-car startup to produce models priced the same as fossil fuel vehicles
23 January 2020 - 05:00
Consumer acceptance of electric vehicles (EVs) has so far been slow partly due to their high cost, but Hyundai and Kia plan to soon make more affordable battery-powered cars.
The South Korean carmakers last week jointly invested €100m (R1.6bn) in a London-based electric-vehicle startup Arrival to produce EVs that cost less than fossil fuel-powered cars. The five-year old company employs 800 people globally and has offices in Europe, the US, Israel and Russia...
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