Jump to content
  • William Maley
    William Maley

    Hyundai and Kia Invest 80 Million Euros into Rimac Automobili

      ...Wait, what?...


    From the strange bedfellows' file; Hyundai and Kia have announced a joint investment of 80 million Euros (about $90 million) into Croatia-based Rimac Automobili. Rimac may be known to most people for the fast Concept One electric supercar - the vehicle which Richard Hammond had a serious crash when filming The Grand Tour.

    "The companies will work closely together to develop prototypes for an electric version of Hyundai Motor's N brand midship sports concept car and a high-performance fuel cell electric vehicle. Hyundai Motor Group will leverage the partnership to build on its existing R&D capabilities to meet its electrification plan, which includes deployment of 44 eco-friendly models by 2025," Hyundai said in a statement this week.

    Hyundai has been teasing the idea mid-ship sports car for the past few years with a number of Veloster based concepts like the RM16 N. Maybe something could come to fruition with the help of Rimac.

    What does Rimac get out of this deal? This will allow the company to grow into a Tier 1 supplier for the industry for electric components. 

    Source: Hyundai, Rimac


    HYUNDAI MOTOR AND KIA MOTORS INVEST 80M EUR IN RIMAC AND ESTABLISH A TECHNOLOGY PARTNERSHIP

    • Hyundai Motor to invest 64M EUR; Kia Motors to invest 16M EUR; Rimac and Hyundai Motor Group form a technical partnership to collaborate on two high-performance electric vehicles by 2020

    SEOUL, ZAGREB, 14 May 2019 – Hyundai Motor Company and Kia Motors Corporation have jointly invested 80M Euros in Rimac Automobili (Rimac) - the Croatian high-performance electric vehicle technology and sportscar company. The companies have announced a strategic partnership to collaborate on the development of high-performance electric vehicles.

    With the new collaboration underway, Hyundai Motor Group aims to speed up its transition towards Clean Mobility and position itself as a global leader in driving this change in the industry.

    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.

    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. 



    User Feedback

    Recommended Comments

    Strange indeed, yet if Rimac is able to get Hundai and Kia to have performance sedans that can toast high end models from other OEMs and yet deliver it as a lower price point, they could really put the squeeze on the competition.

    Will be interesting to watch.

    Share this comment


    Link to comment
    Share on other sites

    Rimac Concept One- announced production of 88 units was cut to EIGHT. They did sell all of those 8 however.
    There's a 'concept Two' ("C_Two"- and you thought you hated some of Cadillac's names) - not sure how many have been sold. If it's priced at a million dollars, I'm going to guess less than 8, as the C1 production drop apparently talks to demand.

    Not sure if 'lower price point' is attainable for EVs. The half-handful that are priced a mere 25% higher than the average car may well be being subsidized by IC production. The global vehicle fleet cannot withstand a unilateral jump to circa $75K. 

    Share this comment


    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




  • Similar Content

    • By Drew Dowdell
      MONTH OF JULY
      YEAR-TO-DATE
      Model
      2019
      2018
      2019
      2018
      Rio
      2,266
      1,844
      14,712
      12,915
      Forte
      9,172
      7,546
      57,585
      61,946
      Optima
      8,732
      10,919
      59,201
      57,795
      Cadenza
      75
      200
      838
      3,501
      Stinger
      1,092
      1,506
      8,013
      10,144
      K900
      31
      28
      240
      203
      Soul
      7,358
      8,203
      62,941
      58,235
      Niro
      1,935
      2,310
      13,877
      16,513
      Sportage
      8,573
      7,007
      48,648
      48,726
      Sorento
      8,256
      11,982
      55,274
      64,742
      Telluride
      4,559
      N/A
      27,786
      N/A
      Sedona
      1,356
      1,567
      9,134
      11,955
      Total
      53,405
      53,112
      358,249
      346,675
       
       
    • By Drew Dowdell
      Model Sales
      Vehicle
      July-19
      July-18
      2019 YTD
      2018 YTD
      Accent
      1,830
      1,873
      16,736
      16,698
      Elantra
      11,579
      13,753
      96,550
      113,481
      Ioniq
      2,891
      1,198
      10,490
      9,797
      Kona
      6,377
      4,173
      43,466
      19,366
      Nexo
      21
      0
      140
      36*
      Palisade
      4,464
      0
      4,847
      0
      Santa Fe
      9,644
      8,275
      77,215
      67,460
      Sonata
      6,976
      9,548
      54,108
      63,783
      Tucson
      12,629
      11,360
      78,583
      81,273
      Veloster
      929
      943
      8,533
      6,402
      *Includes Tucson Fuel Cell sales
      Sales Summary
        July-19 July-18 2019 YTD 2018 YTD Hyundai 57,340 51,137 390,668 378,923
    • By Drew Dowdell
      The first Kia Stinger in the UK, a homologation test car, was saved from the crusher.  As a pre-production car, it couldn't be sold to the public.  As it sat in Kia's headquarters showroom, the Product and Press relations team were scheming up ways to keep the HiChroma Red GT S.  After all, during its testing, it has racked up 10,000 miles, an unusually high amount for a test mule. 
      Instead of being sent to the crusher, Kia brought in an engineering team from Hyundai Motor Europe Technical Centre in Rüsselsheim, Germany. The team upgraded the Twin Turbo V6 from 365 hp to 422 hp and peak torque from 376 lb-ft to 413 lb-ft.  They replaced the exhaust with a lightweight Milltek Sport exhaust with cats removed. An upgraded transmission cooler was added. and the transmission was recalibrated for quicker shifting in Sport and Sport+ mode. The team then "Added lightness" to the car by removal of all unneeded weight. Interior trim, airbags, engine cover, rear bumper beam were all removed. The rear windows were glued in place and lightweight door cards added.  After the needed safety equipment and underbody stiffening were installed, the net weight reduction came to about 331 lbs off the stock car. 
      Once the mechanical modifications were complete, the  team added a Stillen front splitter and a rear spoiler, and a body wrap that advertises the racing specs and the GT420 name. 
      There are no plans to build such a car from Kia, but it is an interesting study of what can be done with a car that is otherwise headed to the crusher. 
       

      View full article
    • By Drew Dowdell
      The first Kia Stinger in the UK, a homologation test car, was saved from the crusher.  As a pre-production car, it couldn't be sold to the public.  As it sat in Kia's headquarters showroom, the Product and Press relations team were scheming up ways to keep the HiChroma Red GT S.  After all, during its testing, it has racked up 10,000 miles, an unusually high amount for a test mule. 
      Instead of being sent to the crusher, Kia brought in an engineering team from Hyundai Motor Europe Technical Centre in Rüsselsheim, Germany. The team upgraded the Twin Turbo V6 from 365 hp to 422 hp and peak torque from 376 lb-ft to 413 lb-ft.  They replaced the exhaust with a lightweight Milltek Sport exhaust with cats removed. An upgraded transmission cooler was added. and the transmission was recalibrated for quicker shifting in Sport and Sport+ mode. The team then "Added lightness" to the car by removal of all unneeded weight. Interior trim, airbags, engine cover, rear bumper beam were all removed. The rear windows were glued in place and lightweight door cards added.  After the needed safety equipment and underbody stiffening were installed, the net weight reduction came to about 331 lbs off the stock car. 
      Once the mechanical modifications were complete, the  team added a Stillen front splitter and a rear spoiler, and a body wrap that advertises the racing specs and the GT420 name. 
      There are no plans to build such a car from Kia, but it is an interesting study of what can be done with a car that is otherwise headed to the crusher. 
       
    • By Drew Dowdell
      Hyundai has released released details of the 2020 Hyundai Sonata Hybrid.  While visually it remains close to the non-hybrid version, it does get a different grille, rear spoilers, and special alloy wheels to fine tune aerodynamics. 
      Hyundai has two technologies debuting on the 2020 Hyundai Sonata Hybrid.  First is a solar roof system that recharges the battery to increase travel distance and unnecessary battery discharge. When the system gets an average of 6 hours a day of charging, it is expect to increase travel distance by about 800 miles annually. 
      The second is a new 6-speed hybrid automatic transmission with Active Control Shift (ACS). The transmission is monitored by the hybrid control unit 500 times per second and uses the hybrid motor to precisely adjust the transmission rotational speed to allow for faster shift times and better fuel efficiency.  This technology also increases durability of the transmission by reducing friction during shifting. 
      The engine of Sonata Hybrid is a 2.0 liter 4-cylinder producing 152 horsepower, the electric motor max power output is 38 horsepower, for a total system power output of 195 horsepower. 
      The 2020 Hyundai Sonata goes on sale late summer 2019, no word on when the hybrid will be available. 
       
      Related:
       

      View full article
  • Posts

  • Social Stream

  • Today's Birthdays

    1. FAPTurbo
      FAPTurbo
      (32 years old)
  • Who's Online (See full list)

  • My Clubs

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...