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, and a high-performance fuel cell vehicle. Two performance electric vehicles are on the cards initially, Hyundai Motor Group and Rimac have confirmed, and we won't have long to wait for them either.
The Korean brands have invested Euro 80 million in Rimac as part of a collaboration to develop electric and fuel-cell vehicles. Rimac is a Croatian electric vehicle manufacturer which creates high-performance EVs and sports cars.
The plan is a "strategic partnership to collaborate on the development of high-performance electric vehicles", Hyundai aiming to "speed up its transition towards clean mobility and position itself as a global leader in driving this change in the industry". This after Porsche purchased a 10 per cent stake in the company past year, too.
"We believe that this technology partnership will create maximum value for our companies and their customers". Today that continues, with Hyundai and Kia having jointly invested €80m (€64m Hyundai, €16m Kia) into Croatian company, Rimac.
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. In the new facilities that are now under way, Rimac is planning new high volume production lines for battery packs, powertrain systems and the C_Two hypercar production starting in 2020.