Just as TopSpeed.gr had written here, Hyundai Motor Group and Rimac Automobili (Rimac) announced their strategic partnership to develop the market for high-performance electric vehicles and strengthen the Group's role in environmentally friendly mobility.
Under the new partnership, Hyundai Motor Company and Kia Motors Corporation will invest EUR 64 and 16 million respectively in Rimac, an investment of EUR 80 million. The companies will work closely together to develop prototype vehicles for an electric version of Hyundai's N brand race car and a high performance fuel cell electric vehicle (FCEV), with a view to later entering the market.
"Rimac is an innovative company with outstanding capabilities in high-performance electric vehicles," said Mr. Euisun Chung, Executive Vice Chairman of Hyundai Motor Group. "Its start-up roots and experience in automotive partnerships combined with its technological expertise makes Rimac an ideal partner for us. We look forward to working with Rimac on our journey towards eco-friendly mobility."
"We are impressed by Hyundai Motor Group's vision as well as its determination," said Mate Rimac, Founder and CEO of Rimac Automobili. "We believe this technology collaboration will create maximum value for both our companies and our customers. Rimac is still young and relatively small, but a fast-growing company. We see a strong investor and technology partner in Hyundai Motor Group and believe this partnership will establish our position in the industry as a Tier-1 electrification component supplier."
Rimac was founded in 2009 in Croatia by Mr. Mate Rimac with the vision of building the sports car of the 21st century. Starting as a garage project, it quickly evolved with expertise ranging from high performance electric motors to various control technologies and battery systems.
Hyundai Motor Group will use this partnership to leverage existing R&D capabilities to meet the company's electrification plan, which includes the creation of 44 eco-friendly models by 2025.
"We want to build high-performance vehicles that are not only fast and powerful, but at the same time meet our customers' highest expectations as their dream vehicle," said Thomas Schemera, Executive Vice President and Head of Hyundai Motor Group's Product Division at Hyundai Motor Group. "Our goal is to make affordable electric vehicles and create social value through innovative technologies and performance."
