Hyundai and Rimac team on performance electric cars

16 Mai, 2019, 09:46 | Auteur: Auguste Feret
  • Hyundai and Rimac team on performance electric cars

"Rimac is an innovative company with outstanding capabilities in high-performance electric vehicles", said Hyundai Executive Vice Chairman Euisun Chung, in a statement. Hyundai will invest 64 million euros and Kia the remaining 16 million, the companies said in a news release.

Along the way to building 44 "eco-friendly" models by 2025, Hyundai Motors, which includes Kia, announced that it will invest $80 million in Croatian EV startup Rimac.

While Hyundai gets a couple cars out of the deal, Rimac also benefits by being able to tap into the scale and manufacturing power of the Korean manufacturer, which will grow the small company even further.

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As a result, Hyundai Motor Company and Kia Motors Corporation has chosen it to be the right partner to help them develop electric sports cars. Mate Rimac says, "We see a strong investor and technology partner in Hyundai Motor Group and believe that this collaboration will charge the company's position as a Tier-1 electrification components supplier to the industry". This after Porsche purchased a 10 per cent stake in the company past year, too. "We look forward to collaborating with Rimac on our road to Clean Mobility".

Under the agreement, Hyundai and Kia will collaborate with Rimac to produce a full-electric version of the forthcoming "midship" sports auto from Hyundai's N performance division, as well as a high-performance fuel-cell vehicle.

Croatia's Rimac Automobilii, founded by Mate Rimac, is tiny by comparison to most mainstream automakers but it has created some very impressive electric cars. Armed with creative thinking, cooperative communication and the will to take on all challenges, we are working to create a better future for all.

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