Hyundai advances towards sustainable mobility

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Hyundai Motors and Kia Motors will invest €80M (Hyundai €64M and Kia Motors €16M) in Rimac and will establish a partnership to strengthen the path towards Sustainable Mobility.

Rimac is a Croatian high-performance electric and sports vehicle technology company. They have established themselves as leaders in the industry and continue to innovate and manufacture EV technology, supporting many partners in the ecosystem.

“Rimac Automobili was founded in 2009 by Mate Rimac (then 21 years old), turning his first Guinness World Record electric car in a garage. Today, Rimac develops and manufactures key electrification systems for many global automotive companies while raising the bar for high-performance electric vehicles with its own electric hypercars. This technology hub located on the outskirts of Zagreb, Croatia, currently employs over 500 people with plans for strong future growth. The company is vertically integrated with many of its own production components. The next challenge is to transition from being a low-volume manufacturer of complex high-end electrification components to an established tier-one supplier for the industry. In the new facilities currently under construction, Rimac is planning new high-volume production lines for battery modules, transmission systems, and the production of hypercars C_Two starting in 2020.”

 

Alliances

Rimac will work closely with Hyundai Motors and Kia Motors “to develop an electric version of Hyundai Motor’s N brand sports car and high-performance fuel cell electric vehicles,” said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group. The fully electric sports car will be branded with Hyundai’s N performance, while the high-performance fuel cell electric vehicle is likely to carry the Kia brand. Rimac will help them accelerate the transition towards sustainable mobility.