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Hyundai Group invests $90 million in Rimac to develop electric halo cars

The Hyundai Group is the next large automaker to make pilgrimage to Croatia, all for the purpose of investing 80 million euros ($90 million) in Rimac. Hyundai has chipped in 64 million euros ($72 million), while Kia added 16 million euros ($18 million). The tie-up puts a much faster spin on the South Korean automaker's electrification goals, with current plans to get 44 "eco-friendly models" on sale by 2025. Developing products with Rimac means working up two proper halo models to lead the charge. The press release stated Hyundai's intent to "to lead the high-performance electrified vehicle market and enhance its status as a game changer in Clean Mobility." According to Thomas Schemera, EVP of the group's product division, "Our goal is to popularize electric vehicles and to create social value through world-class technology and innovation in performance." The Hyundai Kona Electric, Ioniq and Nexo, and the Kia Soul EV and Niro EV have all won praise, but won't be enough in their current forms to garner the attention Hyundai and Kia desire. We'll see first fruits as soon as next year. Two high-performance electric prototypes are expected to debut, one being a battery-electric vehicle, the other a hydrogen fuel cell EV. The battery-powered offering will be a zero-emission version of Hyundai's mid-engined sports car for the N division. This has been in the works for seven years now, with three concepts put on show starting with the Veloster Midship in 2014. The RM15 followed a year later, the RM16 N (pictured) a year after that. The automaker didn't indicate what the FCEV would be. The aim, however, is to bring both to marker "at a later time." On Rimac's side, the investment helps the small Croatian on its quest for Tier 1 Supplier status. Only ten years old and employing about 500 people, Rimac has supplied technology to Aston Martin for the Valkyrie, Jaguar for the E-Type Zero, Koenigsegg for the Regera, and Pininfarina for the PF0. Porsche bought a ten-percent stake in Rimac last year, following a 30-million-euro investment from Chinese battery maker Camel Group to take a 19-percent stake. The Eastern European concern remains focused on its own bowtie-inspired hypercars as long as founder Mate Rimac leads, though. As he told Motor Trend in April, "Of course I'm very passionate about helping other manufacturers build their cars. But if the shareholders decide it doesn't make sense to produce our own cars, they we'll have to find another CEO."

Hyundai mulling new Lexus-fighting upscale crossover

The idea of Hyundai marketing a luxury automobile might have seemed ridiculous a decade ago, but that was before the Genesis sedan, Genesis coupe and Equus came along. Now that buyers seem more accustomed to the notion of an upscale Hyundai, the Korean automaker is said to be considering launching a luxury crossover to take on the likes of the Lexus RX and Cadillac SRX.
The report comes from our compatriots at Edmunds, who spoke to Dave Zuchowski, head of Hyundai's North American unit, who said that the project is not yet part of the company's plan, but that "it is something under consideration."
The last time Hyundai entered that territory was with the Veracruz (pictured above), a model that was sometimes compared to but ultimately failed to compete with the Lexus RX when it was sold between 2006 and 2011. The Veracruz was effectively replaced by the seven-passenger Santa Fe with which it shared its underpinnings. This new project being considered would similarly be based on the latest Santa Fe, and the challenge Hyundai is facing once again would be to position it as a sufficiently upscale product to warrant a premium sticker price.

The 2017 Hyundai Ioniq fuel economy numbers are official, and impressive

Thanks to the EPA's handy fuel economy reference site, fueleconomy.gov, we now know exactly how the three versions of the 2017 Hyundai Ioniq did in fuel economy testing. The EPA tested all three versions: the hybrid Ioniq, the plug-in hybrid Ioniq Blue, and the self-explanatory Ioniq Electric. For reference, the 2017 Toyota Prius is no slouch, getting 50 mpg highway, 54 in the city, and 52 combined according to EPA testing. Now let's compare to the Ioniq, which in regular form gets 54 highway, 55 city, and 55 combined. It bests the traditional hybrid Prius most significantly on the highway. The plug-in Blue achieved 59 highway, 57 city, for a combined 58 mpg rating. As we mentioned in our earlier deep dive on the Ioniq range, the plug-in will also do 31 miles on electricity alone. As suspected, the range of the Ioniq Electric is going to be an issue for the company. The EPA confirmed the range to be 124 miles in total, returning an MPGe rating of 122 highway, 150 city, and 136 combined. We know that Hyundai is self-conscious of the range of the initial model, which looks unimpressive compared to the crop of 200-plus-mile range EVs coming to market soon, like the Bolt. Hyundai recently told Automotive News that a 200-mile range version will be coming quickly, by 2018, so the Electric won't be hobbled for too long. As long as we're comparing it to the Bolt, it should be noted that the MPGe numbers are better, even if the total range isn't. The Bolt is only good for 110 highway, 128 city, and 119 combined MPGe – to put it another way, the Ioniq Electric consumes 25 kWh per 100 miles, while the Bolt consumes 28. A small difference, to be sure, but worth noting. Don't forget that there's a fourth Ioniq out there, which we rode in recently, although it's notably mainly for its autonomous tech rather than its drivetrain. Related Video: Tip: Ramsy Shuffield Green Hyundai Fuel Efficiency Hatchback Electric Hybrid