Hyundai partners Rimac, invests RM355 mil for brand new midship sports car and high-performance FCEV

Hyundai partners Rimac, invests RM355 mil for brand new midship sports car and high-performance FCEV

Hyundai Motor Group and Rimac Automobili have entered a strategic partnership which will allow both companies to develop prototypes of high-performance electrified vehicles. The Korean firm also plans to enhance its status as a game changer in clean mobility.

Under the new partnership, Hyundai and Kia will each invest 64 million and 16 million euros (RM280 million and RM75 million) respectively in the Croatian automaker. Together, the companies will develop prototypes for an electric version of Hyundai N’s new midship sports concept car, as well as a high-performance fuel cell electric vehicle. Both new models will be introduced to the market at a later date.

Hyundai Motor Group’s executive vice chairman, Euisun Chung said “Rimac is an innovative company with outstanding capabilities in high-performance electric vehicles. Its startup roots and abundant experience collaborating with automakers combined with technological prowess makes Rimac the ideal partner for us. We look forward to collaborating with Rimac on our road to Clean Mobility.”

Rimac Automobili founder and CEO, Mate Rimac, said “we are very impressed by Hyundai’s vision as well as prompt and decisive initiative. We believe this technology partnership will create maximum value for our companies and their customers.”

Hyundai partners Rimac, invests RM355 mil for brand new midship sports car and high-performance FCEV

The 295-hp Hyundai Racing Midship 16 N Concept was first seen testing in 2016

“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 collaboration will charge our position as a Tier-1 electrification components supplier to the industry,” he added.

Additionally, Hyundai will leverage the partnership to build on its existing R&D capabilities to meet its electrification plan, which includes the deployment of a whopping 44 eco-friendly models by 2025. Currently, there’s no word on electrifying Hyundai’s N range of high-performance cars, but the likelihood is high.

Hyundai’s product chief Thomas Schemera said “we want to build high-performance vehicles that are not only fast and powerful but also meet the highest expectations of our customers as the car of their dreams. Our goal is to popularise electric vehicles and to create social value through world-class technology and innovation in performance.”

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Matthew H Tong

An ardent believer that fun cars need not be fast and fast cars may not always be fun. Matt advocates the purity and simplicity of manually swapping cogs while coping in silence of its impending doom. Matt's not hot. Never hot.

 

Comments

  • Reezal on May 16, 2019 at 3:18 pm

    (Like) Geely Lotus
    (Dislike) Hyundai Rimac

    Like or Dislike: Thumb up 11 Thumb down 11
  • Not Toyota Fan on May 16, 2019 at 10:14 pm

    Don’t look down at Croatia. We may not be familiar with this eastern European country but they’re rather innovative.

    Read up on the Croatian developed HS2000 pistol. It was so well developed that (well known) US company Springfield Armoury signed to licensed manufacture and sell this (with very little changes or modifications) as the XD in America. And sales has been phenomenal.

    Like or Dislike: Thumb up 0 Thumb down 0
 

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