Hyundai and Rimac have announced a strategic partnership. They are cooperating to produce high-performance prototypes of electric vehicles, which will later go into series production.
Hyundai and Kia are investing in Rimac.
Kia Motors Corporation
The Hyundai Motor Group and Rimac Automobili are entering into a development partnership for high-performance electric vehicles. Hyundai Motor Company and Kia Motors Corporation are jointly investing 80 million euros in Rimac for this purpose. The partnership is expected to produce prototypes such as an electrified Hyundai N-Brand sports concept vehicle or a powerful fuel cell electric vehicle. Porsche has also already acquired a ten percent stake in Rimac Automobili.
Hyundai and Kia will also use the partnership to expand their existing R&D capabilities. The Korean car manufacturer's electrification plan provides for the implementation of 44 electric models by 2025. The Croatian electric car manufacturer Rimac, founded in 2009, has know-how in the areas of electric drive trains and battery systems.