Hyundai N electric sports vehicle confirmed with Rimac deal

Galtero Lara
May 16, 2019

More immediately, the companies plan to develop prototypes of a high-performance, electric sports auto with a motor and battery mounted behind the driver for Hyundai's new N performance brand, as well as a high-performance fuel-cell vehicle.

Hyundai Motor Group will leverage the partnership to build on its existing R&D capabilities to meet its electrification plan.

The Hyundai Motor Group has investested heavily in hydrogen fuel cell technology alongside its full electric development plans, believing the technology can be a viable alternative to full EVs for low carbon emission vehicles.

The Korean brands have invested Euro 80 million in Rimac as part of a collaboration to develop electric and fuel-cell vehicles. "We look forward to collaborating with Rimac on our road to Clean Mobility".

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Founder and CEO of Rimac Automobili, 31-year old entrepreneur Mate Rimac said: "We are very impressed by the Hyundai Motor Group's vision and prompt and decisive initiative". Today that continues, with Hyundai and Kia having jointly invested €80m (€64m Hyundai, €16m Kia) into Croatian company, Rimac.

Rimac Automobili was founded in 2009 by Mate Rimac (then 21 y/o), converting his first Guinness-World-Record breaking electric vehicle in a garage. Be it about Porsche acquiring 10 per cent stake in the EV company or providing the electric powertrain for the Mahindra-owned Pininfarina's electric hypercar, the Battista. The company has its headquarters located on the outskirts of Zagreb, Croatia with a worforce strength of more than 500.

Hyundai Motor Group is a global corporation that has created a value chain based on automobiles, steel, and construction and includes logistics, finance, IT and service.

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