Hyundai Motor's Investment Electric Vehicle Company 'Arrival' to Produce Electric Cars for Uber Starting 2023

Concept design of the 'Arrival Car' to be made by British commercial electric vehicle company Arrival for the ride-sharing company Uber
Photo by Reuters-Yonhap News

[Asia Economy Reporter Park Byung-hee] Arrival, a UK-based commercial electric vehicle company invested in by Hyundai Motor Group, plans to start production in the second half of 2023 of electric vehicles to be used by the ride-sharing company Uber, according to major foreign media reports on the 4th (local time).

In a joint statement announced on the same day, Arrival and Uber stated that they plan to begin production of the 'Arrival Car' for ride-sharing use starting in the fourth quarter of 2023. They also said that the two companies will seek a strategic partnership in key markets including the UK, the European Union (EU), and the United States.

The two companies explained that the 'Arrival Car' will be an affordably priced vehicle for ride-sharing, designed to provide drivers with comfort, convenience, and safety, while also being capable of handling the annual driving distance of shared vehicles, which can reach up to 50,000 km.

Arrival, established in 2015, specializes in developing electric vehicles focused on commercial vehicles such as vans and buses. In January last year, it signed an 'investment and electric vehicle joint development contract' with Hyundai Motor Company and Kia.

Last month, Arrival was listed on the Nasdaq through a merger with a Special Purpose Acquisition Company (SPAC).

Uber plans to convert all shared vehicles in London to electric vehicles by 2025 and intends to support drivers with $188 million in vehicle replacement costs to achieve this goal.

This content was produced with the assistance of AI translation services.