According to Automotive News, Hyundai intends to void its cooperation with Rimac now that the Croatian automaker merged with Bugatti with assistance from Porsche. Rimac responded to the news saying the companies would “continue seeking new ways of working together.”
Hyundai invested €80,000,000 into Rimac three years ago, ending with an estimated company share of 11-12 percent. The Korean corporation will allegedly get rid of this stock soon.
Any joint projects will also be discontinued, most notably the Vision FK, a hydrogen car concept pictured in the gallery here. Hyundai teased it last fall, but never introduced live. Back when it was still in the plans, the car was envisioned with a fuel cell powertrain rated at 680 PS (671 hp / 500 kW).
Another common development was an electric car prototype, which Hyundai now hopes to be able to finish alone. According to different speculations, it could be a high-end version of the Ioniq 5 SUV or a mid-engined sports coupe.
For its part, Rimac commented that the companies had already finished one joint project and were working on another. Whether the cooperation will continue in the future and how remains to be discussed, though.
No reasons were provided for the breakup.