Now the electric vehicle industry is getting interesting. Croatian headquartered Rimac is teaming up with Korean Hyundai Group to create high-performance electric vehicles. The Rimac Concept One is an electric hypercar with 1,224 horsepower, 1,200 lb-ft torque.

All of the naysayers say the problem with Tesla is underfunding, no car dealership network, and Elon Musk. Hyundai Motor Group will invest 80 EUR million in Rimac Automobili so that Rimac and Hyundai Motor Group can form a technical partnership to collaborate on two high-performance electric vehicles by 2020.

Who is Rimac?

Rimac already supplies batteries to such high-performance cars as the Koenigsegg Regera hybrid. Making a jump to a more mass-produced vehicle will put Rimac will give it a household name. Hyundai Motor investing 64 million Euro, and Kia Motors investing 16 million Euros gives those electric vehicles a provenance to the cognitive elite.

The high-performance electric vehicle technology and sportscar company have been making inroads into the United States. I spoke to the COO of RIMAC Monika Mikac at Quail Lodge during Monterey week a couple of years ago. The Rimac conceptone includes tricks such as braking with one wheel while accelerating with three others and drift the other way three seconds later. Hyundai Motor Group and Rimac will collaborate on high-performance electric vehicles. Probably not cars that have 1200 horsepower, but it gives you an idea why Hyundai is collaborating with the King of batteries.

This collaboration will speed up Hyundais Clean Mobility transition in the automotive industry, just as it is helping Aston Martin.

Rimac and Koenigsegg

Rimac has established themselves as one of the leaders in hyper electric vehicle technology and as an electric sports car manufacturer. They continue to deliver EV technology by supporting many industry partners, including Hyundai Motor Group, and Koenigsegg.

The three companies will work closely together to develop an electric version of Hyundai Motor’s N brand mid-ship sports car and a high-performance fuel cell EV.

“Rimac is an innovative company with outstanding capabilities in high-performance EVs,” said Executive Vice Chairman of Hyundai Motor Group, Euisun Chung. “Its startup roots and abundant experience collaborating with automakers combined with technological prowess makes Rimac the ideal partner for Hyundai. We look forward to collaborating with Rimac on our road to Clean Mobility.”

Rimac Automobili, CEO, and Founder, Mate Rimac explained: “We are very impressed by the Hyundai Motor Group’s vision and prompt and decisive initiative. We believe that this technology partnership will create maximum value for our companies and their customers. Rimac is still a young and relatively small but fast-growing company. We see a strong investor and technology partner in Hyundai Motor Group and believe that this collaboration will change the company’s position as a Tier-1 electrification components supplier to the industry. “