Kia and Hyundai Invest In Rimac To Build Further Electric Cars
Last month Ford invested $500 million in Rivian and just a few days ago Kia and Hyundai combined invested $90 million in Rimac. In addition to their own hybrids and electrics, Kia and Hyundai are using Rimac as a way towards clean mobility. This partnership will achieve a new electric version of Hyundai Motors N brand midship sports car, as well as a high performance fuel cell electric vehicle.
Why did Hyundai and Kia chose Rimac? It’s quite clear when asking Euisun Chung, Executive Vice Chairman of Hyundai Motor Group.
“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’s history however brief speaks for itself. They have supplied technology to Aston Martin for the Valkyrie, as well as the Jaguar E-Type Zero and Koenigsegg for the Regera. In addition to that, Rimac is also a sports car manufacturer with the Concept_One and C2. The One just so happens to be the car Richard Hammond flew off a cliff. Anyway, all of this is great news for Kia and Hyundai who should have functioning prototypes by 2020.
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Rimac CEO and founder 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.”
It appears a race to the top for large manufacturers to become number one in terms of clean mobility is underway. With Volkswagen’s announcement of the ID.3 and Ford’s recent investment in Rivian. The industry is going to get very exciting.