Hyundai Group invests 80 million euros in Rimac Automobili
Hyundai and Kia will join forces with the Croatian company to build fast EVs
Hyundai Motor Group and Rimac Automobili have announced a strategic partnership to collaborate on the development of high-performance electric vehicles.
Hyundai Motor, Kia Motors and Rimac will work closely together to develop an electric version of Hyundai Motor’s N brand midship sports car and a high-performance fuel cell electric vehicle.
“Rimac is an innovative company with outstanding capabilities in high-performance electric vehicles,” said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group. “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.”
Founder and CEO of Rimac Automobili, Mate Rimac said: “We are very impressed by the Hyundai Motor Group’s vision and prompt and decisive initiative. We believe that this technology partnership will create maximum value for our companies and their customers. Rimac is still a young and relatively small but fast-growing company. 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.
In 2009, founder Mate Rimac (30) began working from his garage on his vision of producing electric sports cars that could both be fast and offer excitement. Rimac recently presented the latest version of its electric hypercar, the “C Two”, at the Geneva Motor Show in March 2018.
The two-seater produces around 2,000 hp and reaches a top speed of 412 kilometres per hour. It has a range of 650 kilometres (NEDC Cycle), and achieves an 80% battery charge in 30 minutes through a 250 kW fast charging system. Furthermore, the company engineers and manufactures high-performance electric vehicle powertrain systems and battery systems. The Zagreb-based company employs a total of around 400 employees.