On May 15, local time, Hyundai Motor and Kia Motors issued a press release stating that the two companies will jointly invest 80 million euros ($ 90 million) in Croatian electric supercar maker Rimac Automobili, of which Hyundai will invest 64 million euros. Kia invests the remaining 16 million euros.
A spokesman for Hyundai Motor said, "This is an equity investment, but we are not prepared to disclose the shareholding ratio." It is reported that Hyundai, Kia and Rimac will jointly develop two high-performance electric vehicles, one of which will be for Another supercar built by Hyundai ’s high-performance sub-brand N may be a fuel cell car built for Kia.
"The Rimac is an innovative company with outstanding capabilities and experience in high-performance electric vehicles." Rimac said that it hopes that the cooperation with Hyundai Kia will strengthen its Position as a Tier 1 supplier of electrified components.
Hyundai Motor plans to provide 44 electrified models by 2025, with annual sales of approximately 1.67 million. Kia aims to have 19 electrified products by 2022, including six pure electric vehicles, six plug-in hybrid vehicles, six full hybrid vehicles, and a fuel cell vehicle.
Hyundai Motor is one of the few automakers that has invested heavily in hydrogen fuel cell technology. Its fuel cell models include the ix35 / Tucson SUV and Nexo crossover. Last year, Hyundai and Audi said they would cooperate to develop fuel cell vehicles for Audi and other brands under the Volkswagen Group.