Hyundai and Kia invest in Rimac Automobili

KOREAN car giants Hyundai and Kia will invest a combined total of EUR 80 million in Croatian high performance electric car maker Rimac Automobili as part of a collaboration on EV and FCEV prototypes.

The new partnership is set to be a game changer for the automotive industry, and could lead to the birth of a production version of the Genesis Essentia electric vehicle concept (pictured below).

Rimac is famous for its astounding high performance C_Two electric hyper car, capable of a top speed of 412km/h, while generating a maximum power output of 1,408kW and torque numbers pushing 2,300Nm. It’s 0-100km/h time is 1.85 seconds.

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And if you think you’ve heard of them before, you have. The Grand Tour’s Richard Hammond destroyed a version of Rimac’s original Concept_One vehicle while filming for Top Gear (the program he once hosted).

Under the new partnership, Hyundai Motor Company and Kia Motors Corporation will work closely with Rimac to develop prototypes for an electric version of Hyundai Motor’s N brand midship sports concept car, as well as 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.”

Started by then 21-year-old Mate Rimac in 2009, when he converted his converted his first Guinness World Record electric car in a garage, Rimac Automobili has grown into an electric vehicle technology powerhouse.

“We are very impressed by Hyundai Motor Group’s vision as well as prompt and decisive initiative,” said Mate Rimac, Founder and CEO of Rimac Automobili.

“We believe this technology partnership will create maximum value for our companies and their customers.”

Meanwhile, Hyundai Motor’s N brand, dedicated to high-performance vehicles, has been introducing acclaimed high-performance models such as the i30N and the Veloster N since its launch in 2015.

“We want to build high-performance vehicles that are not only fast and powerful but also meet the highest expectations of our customers as the car of their dreams,” said Thomas Schemera, Executive Vice President and Head of Hyundai Motor Group’s Product Division.

“Our goal is to popularise electric vehicles and to create social value through world-class technology and innovation in performance.”

Genesis Essentia electric concept car
Genesis Essentia electric concept car
News Desk
News Desk
The News Desk is the hub of Exhaust Notes Australia. It's from here that our team of writers journalists and photographers bring you the latest happenings from the world of motoring.


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