Car making giants Hyundai and Kia will today reveal a €100m (£85.6m) in London-headquartered electric vehicle firm Arrival.
The move will mark the beginning of a strategic partnership between the trio which will see Hyundai and Kia use the scaleup’s technology to develop mobility solutions and electrify their vehicles.
Arrival, which has more than 800 employees in five countries, has not publicly raised funds before today. The firm said the injection makes it one of the UK’s largest unicorns, but declined to give further details on its investor base or valuation.