The partnership focuses on Canoo's (relatively) unique skateboard design, which utilizes a pared-back approach to EV building. Each component serves multiple purposes, meaning the platform is smaller and lighter than traditional EV platforms, which means lower prices. The skateboard base is a self-contained unit that can be paired with any cabin design, although the partnership will use it for upcoming Hyundai and Kia models.

This streamlined "mix and match" approach could be a real boon for the EV industry, especially when cost remains a big barrier to adoption. No doubt it'll also serve Hyundai's sustainability goals well, too -- the company wants eco-friendly vehicles to comprise 25 percent of its total sales by 2025. However, EVs and their infrastructure is still a largely experimental area, and there are numerous tie-ups that haven't yet come to fruition. This partnership does, however, illustrate possibilities for the industry.