Rimac and Hyundai still together, the partnership is not dead

Rimac and Hyundai still together, the partnership is not dead

Rimac and Hyundai still together

A few days ago we reported the news about the partnership between Rimac and Hyundai, which seemed destined to end ahead of time, but in the last hours the founder of Rimac, Mate Rimac, published a post on Facebook in which he wanted to silence all these rumors, because the agreement between the two is far from being blown.

“Hyundai commented on the fake news articles that spoke of the end of the collaboration between Rimac and Hyundai due to our relationship with Porsche. The two companies are keen to emphasize how the news is false, even if the media continue to report it. "

Hyundai has also released official statements, stating that Hyundai and Kia's investment in the Rimac Group is still confirmed by both parties, who are working on projects at a very advanced stage.

I rumors relating to this breakup were born following the agreement between Porsche and Rimac: a few months ago the German brand decided to invest even more in the Croatian electric hypercar company, also bringing Bugatti (a brand owned by the group) with it. Volkswagen, as well as Porsche) to create the Bugatti-Rimac joint venture, in order to give life to absolutely unique electric hypercars.

In all of this, Hyundai owns 12% of Rimac and will certainly do nothing to put it in difficulty. The Korean company knows that in the future it will have to have electric cars for all budgets and for all markets, so it would be short-sighted to cut ties with a company that is now doing so well in the field of high-performance electric cars.| ); }
As we told you last week, the collaboration between Hyundai and Rimac will give life to high performance electric vehicles that Hyundai will bring to market within the "N" series, and probably also to a vehicle based on fuel cell technology, proposed under the Kia brand.

Rimac says the report claiming it split with Hyundai is 'fake news'

Mate Rimac, the man who founded the Croatian carmaker that bears his name, stressed that an earlier report claiming his firm is no longer working with Hyundai is 'fake news.' He added that the three-year old partnership still stands, and Hyundai denied the rumor as well.

'Hyundai has commented on the fake-news article which says that Rimac and Hyundai are ending [their] collaboration because of the Porsche-Rimac collaboration. Both Hyundai and Rimac have said that it is not true. But [the] media still keeps writing about it. Well, says more about the media than anything else,' the executive declared on Facebook, citing a story in German magazine Auto, Motor, Und Sport.

The publication wrote that both companies remain strongly committed to the partnership and plan to continue working together in the foreseeable future. Hyundai added that it will 'continue to invest in the Rimac Group and can confirm that several partnership projects are currently running at a high level,' though it stopped short of providing specific details. As we've previously reported, the Hyundai Group injected about 80 million euros (which represented around $90 million in 2019) into Rimac to create a pair of high-performance electrified cars. One is believed to take the form of an electric hot hatch, while the other is reportedly powered by a hydrogen-electric drivetrain.

While the partnership seemed to be going well, and the hydrogen-powered car was previewed by a concept called Vision FK in September 2021, industry trade journal Automotive News wrote in May 2022 that Hyundai had decided to cut ties with Rimac due to the latter's close relationship with Porsche. Porsche owns 45% of a company called Bugatti-Rimac that the Volkswagen Group founded to offload Bugatti in June 2021. To further complicate this web, Porsche began investing in Rimac years ago and continues to own a 24% stake.

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