Remake says the report claims that it has split with Hyundai in ‘fake news’

Matt Remack, who founded the Croatian carmaker bearing his name, insisted that an earlier report claiming his firm was no longer working with Hyundai was “fake news.” He added that the three-year-old partnership still stands, and Hyundai has also denied the rumors.

Hyundai commented on the fake-news article which says that Rimac and Hyundai are ending [their] Collaboration due to Porsche-remake collaboration. Both Hyundai and Remake have stated that this is not true. But [the] The media still writes about it. Well, there’s more to the media than anything else, “the executive announced on Facebook, quoting a story from a German magazine. Auto, motor, and sports.

The publication writes that both organizations are firmly committed to the partnership and plan to continue working together in the near future. Hyundai added that it would “continue to invest in the Remake Group and ensure that a number of partnership projects are currently at a high level,” although it declined to provide specific details. As we mentioned earlier, Hyundai Group has injected about 80 million euros (which represents about $ 90 million in 2019) into Rimac to create a pair of high-powered electric vehicles. One is believed to take the form of an electric hot hatch, the other is driven by a hydrogen-electric drivetrain.

Although the partnership seems to be going well, and the hydrogen-powered car was previewed in September 2021 by an idea called Vision FK, the industrial trade journal Automotive News Wrote in May 2022 that Hyundai had decided to sever ties with Remake due to its close relationship with Porsche. Porsche owns 45% of a company called Bugatti-Remac, which the Volkswagen Group founded Bugatti for offloading in June 2021. To further complicate the web, Porsche began investing in Rimac a few years ago and continued to own 24% of the shares.

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