Former Yota CEO receives € 100 million from Kia and Hyundai to develop electric vehicle systems

The American edition of Wired published material in which it said that South Korean automobile

Kia and Hyundai jointly invested € 100 million in Arrival, a startup created by former head of Yota mobile operator Denis Sverdlov.

This company, judging by official data,registered in the UK, and its main activity is the development of technology for electric vehicles. It was for the successful launch of their solutions in this segment that such giants as Hyundai and Kia decided to invest 100 million euros in the Sverdlov project. If you believe the available data, Hyundai and Kia will receive 3.33% in the startup, while the founder himself will retain the position of the main shareholder of the company.