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From the strange bedfellows' file; Hyundai and Kia have announced a joint investment of 80 million Euros (about $90 million) into Croatia-based Rimac Automobili. Rimac may be known to most people for the fast Concept One electric supercar - the vehicle which Richard Hammond had a serious crash when filming The Grand Tour. "The companies will work closely together to develop prototypes for an electric version of Hyundai Motor's N brand midship sports concept car and a high-performance fuel cell electric vehicle. Hyundai Motor Group will leverage the partnership to build on its existing R&D capabilities to meet its electrification plan, which includes deployment of 44 eco-friendly models by 2025," Hyundai said in a statement this week. Hyundai has been teasing the idea mid-ship sports car for the past few years with a number of Veloster based concepts like the RM16 N. Maybe something could come to fruition with the help of Rimac. What does Rimac get out of this deal? This will allow the company to grow into a Tier 1 supplier for the industry for electric components. Source: Hyundai, Rimac HYUNDAI MOTOR AND KIA MOTORS INVEST 80M EUR IN RIMAC AND ESTABLISH A TECHNOLOGY PARTNERSHIP Hyundai Motor to invest 64M EUR; Kia Motors to invest 16M EUR; Rimac and Hyundai Motor Group form a technical partnership to collaborate on two high-performance electric vehicles by 2020 SEOUL, ZAGREB, 14 May 2019 – Hyundai Motor Company and Kia Motors Corporation have jointly invested 80M Euros in Rimac Automobili (Rimac) - the Croatian high-performance electric vehicle technology and sportscar company. The companies have announced a strategic partnership to collaborate on the development of high-performance electric vehicles. With the new collaboration underway, Hyundai Motor Group aims to speed up its transition towards Clean Mobility and position itself as a global leader in driving this change in the industry. Rimac has established themselves as a leader in high-performance electric vehicle technology and as an electric sportscar manufacturer. The company continues to deliver EV technology supporting many industry partners, including Hyundai Motor Group, to accelerate their way towards an electric future. Hyundai Motor, Kia Motors and Rimac will work closely together to develop an electric version of Hyundai Motor’s N brand midship sports car and a high-performance fuel cell electric vehicle. “Rimac is an innovative company with outstanding capabilities in high-performance electric vehicles,” said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group. “Its startup roots and abundant experience collaborating with automakers combined with technological prowess makes Rimac the ideal partner for us. We look forward to collaborating with Rimac on our road to Clean Mobility.” Founder and CEO of Rimac Automobili, Mate Rimac said: “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 charge the company’s position as a Tier-1 electrification components supplier to the industry. -
From the strange bedfellows' file; Hyundai and Kia have announced a joint investment of 80 million Euros (about $90 million) into Croatia-based Rimac Automobili. Rimac may be known to most people for the fast Concept One electric supercar - the vehicle which Richard Hammond had a serious crash when filming The Grand Tour. "The companies will work closely together to develop prototypes for an electric version of Hyundai Motor's N brand midship sports concept car and a high-performance fuel cell electric vehicle. Hyundai Motor Group will leverage the partnership to build on its existing R&D capabilities to meet its electrification plan, which includes deployment of 44 eco-friendly models by 2025," Hyundai said in a statement this week. Hyundai has been teasing the idea mid-ship sports car for the past few years with a number of Veloster based concepts like the RM16 N. Maybe something could come to fruition with the help of Rimac. What does Rimac get out of this deal? This will allow the company to grow into a Tier 1 supplier for the industry for electric components. Source: Hyundai, Rimac HYUNDAI MOTOR AND KIA MOTORS INVEST 80M EUR IN RIMAC AND ESTABLISH A TECHNOLOGY PARTNERSHIP Hyundai Motor to invest 64M EUR; Kia Motors to invest 16M EUR; Rimac and Hyundai Motor Group form a technical partnership to collaborate on two high-performance electric vehicles by 2020 SEOUL, ZAGREB, 14 May 2019 – Hyundai Motor Company and Kia Motors Corporation have jointly invested 80M Euros in Rimac Automobili (Rimac) - the Croatian high-performance electric vehicle technology and sportscar company. The companies have announced a strategic partnership to collaborate on the development of high-performance electric vehicles. With the new collaboration underway, Hyundai Motor Group aims to speed up its transition towards Clean Mobility and position itself as a global leader in driving this change in the industry. Rimac has established themselves as a leader in high-performance electric vehicle technology and as an electric sportscar manufacturer. The company continues to deliver EV technology supporting many industry partners, including Hyundai Motor Group, to accelerate their way towards an electric future. Hyundai Motor, Kia Motors and Rimac will work closely together to develop an electric version of Hyundai Motor’s N brand midship sports car and a high-performance fuel cell electric vehicle. “Rimac is an innovative company with outstanding capabilities in high-performance electric vehicles,” said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group. “Its startup roots and abundant experience collaborating with automakers combined with technological prowess makes Rimac the ideal partner for us. We look forward to collaborating with Rimac on our road to Clean Mobility.” Founder and CEO of Rimac Automobili, Mate Rimac said: “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 charge the company’s position as a Tier-1 electrification components supplier to the industry. View full article
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For almost two decades, Cadillac has been undergoing a transformation of sorts to become a threat to likes of BMW and Mercedes-Benz. The various models and changes have been met with mixed reactions. But the latest move to make Cadillac the lead brand in General Motors' electric car offensive marks a big change. According to an executive, this is the brand's last chance at success. “We don’t have any chances left with taking Cadillac to a really new place. This is pretty much it,” said GM President Mark Reuss to Reuters. “So we really have to hit the ball here. It’s my job to make sure we do.” Cadillac previewed their first EV on Sunday night during the press preview of the XT6 crossover. No name was given, but the model appears to be a small or midsize crossover. It will be the first vehicle to use GM's dedicated BEV3 platform that has been designed to underpin various types of vehicles and drivetrain layouts. When asked how long it would take for Cadillac to transition to an all-electric lineup, Reuss said it is too early to tell. He expects a combination of electrified and combustion engine models “for quite a few years” in the lineup. Reuss did not elaborate what would happen if the transition to electric faltered. “All I’m focused on is what we’re doing right now…” Reuss said, “and getting momentum back in Cadillac.” Source: Reuters View full article
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For almost two decades, Cadillac has been undergoing a transformation of sorts to become a threat to likes of BMW and Mercedes-Benz. The various models and changes have been met with mixed reactions. But the latest move to make Cadillac the lead brand in General Motors' electric car offensive marks a big change. According to an executive, this is the brand's last chance at success. “We don’t have any chances left with taking Cadillac to a really new place. This is pretty much it,” said GM President Mark Reuss to Reuters. “So we really have to hit the ball here. It’s my job to make sure we do.” Cadillac previewed their first EV on Sunday night during the press preview of the XT6 crossover. No name was given, but the model appears to be a small or midsize crossover. It will be the first vehicle to use GM's dedicated BEV3 platform that has been designed to underpin various types of vehicles and drivetrain layouts. When asked how long it would take for Cadillac to transition to an all-electric lineup, Reuss said it is too early to tell. He expects a combination of electrified and combustion engine models “for quite a few years” in the lineup. Reuss did not elaborate what would happen if the transition to electric faltered. “All I’m focused on is what we’re doing right now…” Reuss said, “and getting momentum back in Cadillac.” Source: Reuters -
William Maley Staff Writer - CheersandGears.com July 12, 2013 Mazda has been know to be a bit different than other automakers. Case in point is their SKYACTIV Technologies inative. Instead of following most automakers with hybrids and electric vehicles, Mazda is extracting as much efficiency as they can from standard gas and diesel engines, and doing some very clever enginnering. In fact Mazda says for the time being, they are going to pass on hybrids and electrics. "While downsizing can be an effective method for reducing emissions, adding an electric boost often merely offsets the loss in power from reduced displacement. We want to make sure our engines are optimally designed, to make better effect of the benefits of combined battery power," said a Mazda R&D Spokesperson to AOL Cars UK. As for electrics? "We've created a full EV version of the Mazda2, which we showcased mainly to prove wrong those who said we couldn't do it. In fact creating an electric car isn't that difficult, but in terms of customer appeal and uptake, we don't foresee the time being right before 2020," said Peter Allibon, sales director of Mazda UK. Source: AOL Cars UK William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
William Maley Staff Writer - CheersandGears.com July 12, 2013 Mazda has been know to be a bit different than other automakers. Case in point is their SKYACTIV Technologies inative. Instead of following most automakers with hybrids and electric vehicles, Mazda is extracting as much efficiency as they can from standard gas and diesel engines, and doing some very clever enginnering. In fact Mazda says for the time being, they are going to pass on hybrids and electrics. "While downsizing can be an effective method for reducing emissions, adding an electric boost often merely offsets the loss in power from reduced displacement. We want to make sure our engines are optimally designed, to make better effect of the benefits of combined battery power," said a Mazda R&D Spokesperson to AOL Cars UK. As for electrics? "We've created a full EV version of the Mazda2, which we showcased mainly to prove wrong those who said we couldn't do it. In fact creating an electric car isn't that difficult, but in terms of customer appeal and uptake, we don't foresee the time being right before 2020," said Peter Allibon, sales director of Mazda UK. Source: AOL Cars UK William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
