While the Western Hemisphere was in slumber, Hyundai Motor Company and its affiliate Kia Motor Corporation made a substantial investment of 80 million euros in the Croatian electric hypercar manufacturer, Rimac Automobili. At current exchange rates, this investment translates to approximately $89,908,000.
This strategic move is aimed at advancing the push to eliminate internal combustion engines by enhancing Rimac’s research and development efforts in high-performance electric vehicles (EVs). It also aligns with Hyundai Motor Group’s broader “Clean Mobility” initiative as the South Korean automotive giant aims to establish itself as a key player in this shift.
“We are greatly impressed by Hyundai Motor Group’s vision and rapid, decisive actions. We believe that this technological partnership will generate significant benefits for both our companies and their consumers,” stated Mate Rimac, the founder and CEO of Rimac, in the official press release. “Rimac is still a young, relatively small but rapidly expanding company. We see Hyundai Motor Group as a strong investor and technology ally, and we are confident that this collaboration will elevate our status as a leading supplier of electrification components in the industry.”
Rimac is known for its groundbreaking Concept_One, which features an impressive 1,224 horsepower generated by four liquid-cooled electric motors, one for each wheel. This vehicle, equipped with a powerful network of laptop batteries providing 90 kWh, achieves a remarkable 0 to 60 mph time of just 2.5 seconds and has a range of 210 miles. Upon its debut in 2013, Rimac claimed it to be the fastest-accelerating electric vehicle in the world, a claim substantiated when former Top Gear host Richard Hammond crashed one while filming for Amazon’s The Grand Tour.
Rimac has also recently launched its second electric supercar, the C_Two, which boasts an astonishing 1,888 horsepower and can accelerate from 0 to 60 mph in merely two seconds.
The collaboration between Rimac, Hyundai, and Kia aims to develop an electric range under Hyundai’s new N Performance brand, which will include a new mid-tier sports car and a high-performance hydrogen fuel cell electric vehicle. Additionally, Porsche has acquired a 10 percent stake in Rimac, further enhancing the company’s credibility.
“Rimac is an innovative firm with exceptional talents in high-performance electric vehicles,” remarked Euisun Chung, the executive vice chairman of Hyundai Motor Group, in the official statement. “Its startup origins, extensive experience in partnerships with automotive manufacturers, and technological expertise make Rimac an ideal collaborator for us. We look forward to working with Rimac on our journey toward Clean Mobility.”
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