Yahoo Autos Hyundai and Rimac breaking up over Porsche
Hyundai is reportedly cutting ties with electric supercar maker Rimac Automobili. Hyundai-Kia has owned a 12% stake worth $90 million in the Croatian maker of the Nevera since 2019. However Porsche, which has owned a 10% stake in Rimac since 2018, upped that share to 24 percent last year.
According to Automotive News, that newfound closeness with Porsche is what's prompting Hyundai to end its collaboration with Rimac. Hyundai had two projects in progress with Rimac: an electric sports car to bolster its N performance subbrand that had yet to earn a name, and the Vision FK Concept, hydrogen-powered sports sedan with a Rimac battery pack.
The AN article states that Hyundai will continue its own development of the former, while the latter is dead in the water. However, the same piece also quotes an official response from Rimac, "We have two active high-level projects ongoing [with Hyundai], one completed and several future projects under discussion."
