Hyundai is reportedly severing ties with electric supercar maker Remac Automobile. Hyundai-Kia has owned 12% of Nevera’s Croatian maker’s% 90 million worth of shares since 2019. However, Porsche, which has owned a 10% stake in Rimac since 2018, raised its stake to 24% last year.
According to Automotive News, This new closeness with Porsche is persuading Hyundai to end its collaboration with Remake. Hyundai is working with Rimac on two projects: an electric sports car to strengthen its N Performance subbrand that has yet to make a name for itself, and Vision FK Concept, a hydrogen-powered sports sedan with a Rimac battery pack.
The A The article states that Hyundai will continue its development in the East, while the second died in the water. However, the same section also cites an official response to the remake, “We have two active high-level projects underway. [with Hyundai]A full and several future projects are under discussion. “
Remake’s deal with Porsche gave it a 55% stake in the newly formed Bugatti-Remac, while Porsche took the remaining 45%. This effectively gave Remac control over the 113-year-old company, where future Bugatis will run on Remac’s electric drivetrain. Porsche still holds a 24% stake in Remake.
It is unknown at this time what he will do after leaving the post. A The article is correct it does not seem that there will be much in keeping it.
It could be argued that the remake, Porsche and Bugatti fit well, as the Nevera is limited to 150 units and costs 2.4 million. Even as an N performance car, Hyundai’s EVs would require more volume and demand more extensive market engineering limitations. This is a different animal than making a small-sized car where money is not an object.