The electric vehicle technology developer pulled in funding from Hyundai and subsidiary Kia at a $3.3bn valuation as part of a strategic collaboration deal.
Automotive manufacturer Hyundai and its Kia subsidiary provided €100m ($112m) in funding for UK-based electric vehicle (EV) technology developer Arrival yesterday at a valuation pegged at $3.3bn by CNBC.
Arrival is working on artificial intelligence-equipped EVs ready to be adapted for autonomous driving. It provides smart software for use in EVs and uses microfactories to make components, materials and modular skateboard platforms for use in their production.
The company claims its technology can make plug-in EVs as cheap as fossil…
