Hyundai and Kia are to push 100 million euros into EV firm Arrival.
Hyundai will invest 80 million euros in Arrival, with Kia contributing 20 million.
At the moment, the firm is undertaking pilot projects with logistics companies in Europe that use vans built with its technology. "We will accelerate investment and cooperation with companies with advanced technology such as Arrival, to respond to the rapidly changing eco-friendly vehicle market," he added.
Hyundai Motor Group has said it will launch 23 battery electric vehicles over the next few years, while Volvo Cars wants 50% of the cars it sells to be fully electric by 2025.
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