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Hyundai, Kia buy stake in electric supercar company Rimac

Hyundai and sister company Kia have jointly invested 80 million euros ($90 million) in the Croatian electric supercar maker Rimac Automobili. Hyundai will invest 64 million euros and Kia the remaining 16 million, the companies said in a news release.

“This is an equity investment, but we are not disclosing the percentage stake,” a Hyundai spokesman said.

Hyundai, Kia and Rimac will develop two high-performance electric vehicles. One will be a sports car for Hyundai’s N performance subbrand. The other will be a fuel cell car, likely for Kia.

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