Hyundai and Kia readying small EV platform

Hyundai Motor Group has confirmed it is co-developing a new electric car platform with LA-based tech company, Canoo.

The architecture that's in the works has been designed and engineered to be scalable, with the 'skateboard'-style platform set to be used for a small hatchback rival for the Renault ZOE.

The reason Hyundai chose Canoo is the US tech company has already created a small-car platform that the car-maker plans to adapt and update for Hyundai and Kia vehicles.

Teaming up with Canoo will therefore help the Korean brands share the huge cost of development, providing an opportunity for a cut-price EV.

As well as a family of passenger cars, it's believed Hyundai also plans to roll out small delivery vans and even an autonomous pod-style vehicle like the PBV concept it unveiled at this year's CES in Las Vegas.

Working alongside Canoo is only one small part of Hyundai Motor's strategy that will see it invest an astonishing $US87 billion ($A129b) in developing powertrains, platforms and vehicles over the next five years.

Out of that vast sum, $US25 billion ($A37b) will be funnelled through to Kia to help that car-maker develop ultra-low emission vehicles following its declaration that 25 per cent of all its sales will be 'eco-friendly' by 2025.

Both Hyundai and Kia have already announced that come 2025 they will have 38 ultra-low emission vehicles on sale, including 14 pure-electric vehicles.

Even luxury car brand Genesis will play its part, launching its first EV next year.

Hyundai has also declared it will continue to develop hydrogen fuel-cell vehicles.