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Hyundai Motor Group and Rimac Reiterate Importance of Strategic Partnership

2019.07.01 00:00:00 No. 16268
Hyundai Motor Group and Rimac Reiterate Importance of Strategic Partnership

• Hyundai Motor Group’s Executive Vice President Thomas Schemera joined discussion in Croatia

• Event was hosted by Rimac CEO Mate Rimac and attended by Croatian Prime Minister, ministers, and senior government officials

SEOUL/ZAGREB, July 1, 2019 — Hyundai Motor Group (the Group) joined its partner Rimac Automobili in a discussion on the potential of the new auto industry in Croatia.

The event hosted by Rimac Founder and CEO Mate Rimac was held on June 28 in Rimac headquarters on the outskirts of Zagreb with Prime Minister of the Government of the Republic of Croatia, Andrej Plenković, and ministers and senior government officials in attendance.

The Group’s Head of Product Division, Executive Vice President Thomas Schemera, was invited to join this meaningful occasion as Rimac’s partner and shareholder, along with Lutz Mescheke, Deputy Chairman and Member of the Executive Board of Porsche AG.

"We are encouraged by the Croatian government's support for our partnership with Rimac,” said Executive Vice President Thomas Schemera. “We will further bolster our strategic partnership in developing high-performance electric vehicle and fuel cell electric vehicle (FCEV) prototypes across the Hyundai Motor Group brands."

“To be attractive to the automotive manufacturers and suppliers, Croatia needs to develop comparative advantages over other countries. Rimac wants to contribute to attracting investors to Croatia, and our role is to point to the needs and expectations of the auto industry,” said Mate Rimac, CEO of Rimac. “Having our shareholders support the initiative is highly encouraging. Them joining the event proves the strength of strategic partnership between Rimac and Hyundai Motor Group focused on collaboration in the development of the disruptive technologies that steer the new auto industry.”

In May, the Group announced an investment of EUR 80 million in Rimac aimed to lead the high-performance electrified vehicle market. Since then, the companies have been working closely together to develop prototypes for an electric version of Hyundai’s N brand midship sports car and a high-performance FCEV with the intent to bring them to market at a later time.

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About Rimac Automobili
Rimac Automobili was founded in 2009 by Mate Rimac (then 21 y/o), converting his first Guinness-World-Record breaking electric car in a garage. Today, Rimac develops and manufactures key electrification systems for many global automotive companies, and at the same time, raises the bar for performance EVs with their own electric hypercars. This technology powerhouse with headquarters on the outskirts of Zagreb, Croatia, employs more than 500 people today with plans for strong future growth. The company is vertically integrated with many of the components produced in house. The next challenge ahead is to grow from a low volume manufacturer of complex high-end electrification components, to an established Tier-1 supplier for the industry. In the new facilities that are currently under way, Rimac is planning new high volume production lines for battery packs, powertrain systems and the C_Two hypercar production starting in 2020.

About Hyundai Motor Group
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. With about 250,000 employees worldwide, the group’s automobile brands include Hyundai Motor Co. and Kia Motors Corp. Armed with creative thinking, cooperative communication and the will to take on all challenges, we are working to create a better future for all.

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