Hyundai's New EV Hypercar Will Use Technology From Croation Startup Rimac

Hyundai and sister company Kia Motors announced on Tuesday that they are investing €80 million (about $90 million) in Croatian electric hypercar startup Rimac. In exchange for the investment, the Korean automakers will gain access to Rimac’s tech. They already have plans to build an electric prototype of one of Hyundai’s N brand performance cars as well as a hydrogen fuel cell vehicle by 2020.

No further details about the cars were released, and it’s unclear how big a stake Hyundai and Kia received in the Croatian company.

Truthy - 5/14/2019 2:57:15 PM

+5 Boost

When I think high tech, I think of Croatia (sarcasm intended).

CANADIANCOMMENTS - 5/14/2019 9:13:04 PM

+2 Boost

$90M sounds great if you get it from the VC for your SaaS startup, but $90M in the car business is coffee money. They may have sold their IP to cheaply.

jtz7 - 5/14/2019 10:30:24 PM

-5 Boost

If It was Toyota that signed a contract it would had been 30 comments by now. But because Hyundai is Korean people are going to act like this isnt a big deal.