Croatian electric mobility superstar Rimac Automobili, which develops and manufactures electric vehicle technologies and electronic sports cars, welcomes new high-profile investors. Hyundai Motor Company and Kia Motors Corporation jointly invested 80 million euros in the company. The agreement is strategic for Hyundai and Kia as they aim to collaborate on the development of high-performance electric vehicles and clean mobility. The three companies will work closely on an electric version of one of Hyundai’s sports car models.
Rimac will use the new capital to strengthen its battery and car production capabilities and move into high-volume manufacturing. At the same time, for the Croatian startup behind the fastest electric car, this means that it is becoming an increasingly important factor for the future of mobility.
Last year, Porsche acquired 10% of the Balkan company. “This will strengthen the company’s position as a leading electrification component supplier to the industry,” comments Mate Rimac, founder and CEO of Rimac Automobili.
Korean e-mobility with Balkan roots
Hyundai Motor participates with 64 million euros, and Kia Motors, which is part of the same group of car manufacturers, puts another amount at 16 million euros. The products developed under this partnership, which are expected to be presented by 2020, will be under the Hyundai brand. With all this, the South Korean company aims to position itself as a global engine for clean mobility.
“Rimac is an innovative company with exceptional capabilities in high-performance electric vehicles,” Euisun Chung, executive vice president of Hyundai Motor Group, said in an official statement. “Its startup roots and rich experience working with automakers combined with its technological prowess make Rimac the ideal partner for us. We look forward to collaborating with Rimac on our journey to clean mobility.
Once a garage startup, soon to be a mass producer
Rimac Automobili has a very typical startup story. It all started around 2009 with Mate Rimac when he was 21 years old and developing an electric car in his garage in Zagreb. Officially, the company was founded two years later and received its first funding of $50,000 in 2015. Today, Rimac develops and manufactures key electrification systems for many global automotive companies and, at the same time , raises the bar for high-performance electric vehicles with their own electrical system. hypercars.
Today, the tech powerhouse headquartered in Zagreb, Croatia, employs more than 500 people and plans to continue growing. After raising more than 120 million in investments from the two South Korean automakers, Germany’s Porsche and Chinese battery developer Camel Group, Rimac appears to be exactly at its inflection point.
The next challenge ahead is to move from a small volume manufacturer of high-end complex electrification components to an established Tier 1 supplier to the industry, the official statement said. Rimac appears to be planning new facilities, so it can begin mass production of batteries, drivetrain systems and the C_Two (a hypercar model that reaches a top speed of 256 miles per hour and accelerates from 0 to 60 mph in 1.85 seconds. and gets 400 miles on a single charge and was introduced last year – ed.) hypercar production starting in 2020.
