Hyundai, Kia Invest 80 Million Euros In Rimac; Establish Technology Partnership

Hyundai Motor Company and Kia Motors Corporation have jointly invested 80 million Euros in Rimac Automobili - the Croatian high-performance electric vehicle technology and sportscar company. Hyundai Motor will invest 64 million euros while Kia Motors will add 16 million Euros in Rimac and will form a technical partnership to collaborate on two high-performance electric vehicles by 2020.

The companies have announced a strategic partnership to collaborate on the development of high-performance electric vehicles. Rimac has established themselves as a leader in high-performance electric vehicle technology and as an electric sportscar manufacturer. The company continues to deliver EV technology supporting many industry partners, including Hyundai Motor Group, to accelerate their way towards an electric future.

The electric motors used in the Rimac One develop more than 1000 bhp and it is the fastest accelerating electric vehicle in the world

Hyundai Motor, Kia Motors and Rimac will work closely together to develop an electric version of Hyundai Motor's N brand sports car and a high-performance fuel cell electric vehicle. Euisun Chung, Executive Vice Chairman of Hyundai Motor Group 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.”