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Hyundai and Kia invest $110 million in UK electric van startup Arrival

Korea's Hyundai Group is backing a UK electric vehicle startup that plans to begin selling battery-powered delivery vans in 2021, the companies said on Thursday. Hyundai and sister firm Kia are making the investment of $110 million (100 million euros or 84.34 million pounds) in Arrival. Founded in 2015 and based in London, Arrival has developed a boxy, futuristic-looking shuttle bus aimed at the commercial delivery market. The company said its van will have a range between charges of 300 miles. In a statement, Arrival said it will work with Hyundai and Kia to develop a variety of electric vehicles, initially for the commercial market. Those vehicles will be built on Arrival's modular vehicle platform or "skateboard" that bundles motor, batteries and chassis components, similar to the skateboard developed by U.S. startup Rivian. Rivian is backed by Ford and Amazon, and has a contract to build 100,000 electric delivery vans for the e-commerce giant, starting in 2021. Hyundai and Kia last year invested $89 million in Rimac Automobili, a nine-year-old Croatian company aspiring to build electric supercars that is also backed by Porsche. Arrival said its vehicles will be equipped with advanced driver assist features and can be upgraded with self-driving systems. The vehicles are designed to sell for the same price as similar models powered by internal combustion engines and to be built in small "microfactories." That strategy is the opposite of U.S. electric vehicle rival Tesla which uses massive "gigafactories." Last fall, Arrival, which until now has operated largely in stealth mode, hired General Motors veteran Michael Ableson to head its new North American operations. With a small factory in Banbury, England, Arrival said it now has 800 employees in five countries, including Germany, Russia and Israel. Arrival previously said it would use BlackBerry's QNX operating system to connect safety features in its electric vehicles. Arrival said its prototype delivery vans are being tested by the Royal Mail, DHL and UPS. Related Video: Green Hyundai Kia Commercial Vehicles Electric Future Vehicles electric delivery van

2019 Kia Forte Second Drive Review | The notes say it's a good choice

The 2019 Kia Forte is one of those cars that impresses and pleases with its well-rounded goodness. It has few foibles, its engineers and designers capably checked as many boxes as they could, and after a week spent driving around town running errands, I found myself saying, "Yeah, this could be my permanent car for driving around town running errands." And yet, if it wasn't for my test drive notes, I'm pretty sure I would've forgotten the Forte. Its styling is handsome and will certainly age well, but it's not bold nor particularly memorable. The gray paint doesn't help. The interior is well-equipped and sensibly laid out, but I had to consult the photo file to recall what it looked like. The Mazda3 and new Toyota Corolla had no such problems. The driving experience, which is perfectly pleasant and vice free around town, merely manages to demonstrate poise and not be flummoxed by mid-corner heaves when pushed on a mountain road. Multiple drive settings are included — a nice touch — and although Normal is just a little too light and numb, even when driving on the highway, the Sport setting dials in just the right amount of extra effort. So too does the "Smart" setting, which I assume lived up to its name by figuring out how I'd prefer my steering. And yet, it could use more feel and is certainly not a Stinger in a small package. Again, I don't need notes to remember what the wheels of the Mazda3, Honda Civic and Corolla Hatchback felt like in my hands. The Forte ... ah ... So this compact Kia comes standard with a neuralizer from " Men in Black" that wipes out your memories after contact. Oh well. Because what it lacks in memorability, it makes up for with that general foible-free goodness. Take the infotainment system as but one example. The Forte's standard 8-inch touchscreen is a paragon of user friendliness and includes Apple CarPlay and Android Auto. The Honda Civic's, by contrast, is wonky and optional. The Corolla's can't be had with Android Auto. The Mazda's isn't a touchscreen. The cabin? It's spacious for four adults aboard. Driver seat comfort? The eight-way power adjustment was spot on for this 6-plus-footer. The trunk? It has 15.3 cubic feet, which is midsize sedan territory, and even bests the previously-thought-to-be jumbo Honda Civic (15.1 cubic feet). The in-car storage?

South Korea assists auto industry struggling with coronavirus fallout

SEOUL —  South Korea said on Monday it would provide logistical and financial support to help its auto industry through the coronavirus crisis, warning of disruptions to supply chains from Europe and the United States. The government said it would speed up customs clearance, arrange freight transportation and provide liquidity support for the industry, which employs about 12% of South KoreaÂ’s workforce, according to official figures. The coronavirus pandemic has led to shutdowns at auto factories and dealerships in the United States and Europe, which are expected to affect South Korean automakers such as Hyundai and Kia. “ItÂ’s time to prepare for the shock of a global demand contraction and European supply issues,” Industry Minister Sung Yoon-mo said in a meeting with parts supplier executives and industry associations, according to a readout from the ministry. “Survival is the most crucial thing in this unprecedented crisis when both demand and supply contract at the same time.” The ministry gave no details on how much liquidity support the government would provide or what form it might take. The assistance is part of 50 trillion won ($39 billion) in emergency financing announced last week to boost the economy. South Korea has reported 8,961 coronavirus cases and 110 deaths from the disease. Hyundai Motor closed its Montgomery, Alabama, assembly plant on Wednesday after an employee there tested positive for COVID-19. It also suspended production at its plants in the Czech Republic and India due to the coronavirus outbreak. Europe and the United States account for about 70% of Korean automakersÂ’ exports, and 54% of Korean parts exports, government data showed. A trade ministry official said South Korean exports would deteriorate in April and May, after rising 10% year-on-year in the first 20 days of March. Car exports rose 13.7% in the period, customs agency data showed on Monday. “For the time being, a drop in exports of cars and auto-parts are inevitable as car factories and dealerships are closing,” Sung said. South Korean automakers had stocked up on inventories which could last up to two months, Sung said. Related Video: Earnings/Financials Government/Legal Plants/Manufacturing Hyundai Kia coronavirus