Hyundai Motor Group Partners with Rimac to Accelerate Development of High-Performance EVs

Hyundai Motor Group to invest EUR 80 million in Rimac
Automobili-Hyundai Motor to invest EUR 64 million; Kia Motors to invest EUR 16 million ( Total...a mere EUR 80 mill )
Companies to collaborate on high-performance EV and FCEV prototypes by 2020

Last year Porsche also bought a 10 percent stake in Rimac.

Hyundai was impressed with Rimac's work balancing high-performance with the need to keep battery weight down while ensuring a usable range.

Hyundai plans to offer 44 electrified models by 2025, targeting annual sales of about 1.67 million units. Kia aims to have 19 electrified vehicles in its range by 2022, comprising six full-electric cars, six plug-in hybrids, six full hybrids and one fuel cell vehicle.

The electric sports car that Hyundai is developing with Rimac will be a "game-changer" for the South Korean automaker and will influence the way it creates cars, said Hyundai's head of European design, Thomas Beurkle.

Two models will result from the investment: a sports car for Hyundai's N performance subbrand and a fuel cell car, likely for Kia.

The new sports car will be a benchmark that would "influence the thinking in the engineering teams in the design teams in the marketing teams”.