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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."

Rumormill again says Kia Stinger is on the ropes

The Kia Stinger hit the market in 2017, spending the first year of its life earning plaudits for terrific handling at an unbeatable price. Although the Stinger could shake the competition, starting in 2018 and ever since, the Stinger couldn't shake rumors that it won't get a second generation. In fact, tangential questions about the Kia began in late 2017, with the assertion that Kia needed to upgrade its dealer network if it really wanted to take on the Germans. Once sales in the key North American market began to soften, then slide, that put blood in the water. Kia's head of design couldn't put off the sharks in October 2018, telling Australian outlet Which Car that the sedan wasn't selling as well as expected in North America. He returned with the same dolor the next year when speaking to Aussie outlet Car Advice, and followed that a month later by sharing the same hesitations phrased differently with Aussie outlet CarsGuide. Now The Korean Car Blog, sourcing "a new report of the South Korean sales," alleges the situation has gotten worse thanks to the coronavirus catastrophe and the need to conserve resources. Kia had already opted not to put a new powertrain into the 2021 Stinger refresh, saving money by adding more power to the current 3.3-liter twin-turbo V6 with a revised exhaust. Everyone who appreciates the Stinger has clear ideas about why it doesn't sell well in certain markets, like these Canadians, this guy in the UK, and these folks from the U.S. and other countries. TKCB believes one of the major issues is the in-house Genesis G70 competition, which has just about everything the Kia could want: A premium brand with premium touchpoints, marketing and advertising, a more rational equipment mix, near constant tweaking, and again, marketing and advertising. Does anyone remember when LeBron James and Aerosmith's Steven Tyler fronted the Stinger movement? Of course, the rumors of axing are still only rumors, and the Stinger is still only three years old. Anything can happen, apparently including the remote possibilities the Stinger morphs into a different kind of vehicle or goes electric. If the sales numbers continue as they've been going, however, something will need to happen; after an 18% dip from 2018 to 2019 in U.S. sales, the Stinger's already down 21% so far this year. Or we'd think something needs to happen — the Kia K900 remains on sale having tabbed 102 sales all of last year in the U.S., and 65 so far this year.

Kia ProCeed GT shooting brake spied ahead of its reveal

Kia plans to introduce its ProCeed GT to the world tomorrow, but our spy shooters just caught a fully camouflaged version out testing on public roads. This five-door shooting brake most likely isn't coming to the crossover-crazed U.S., but it's still cool enough that we thought you'd like to see it. We were thoroughly impressed with the ProCeed Concept shown in Frankfurt last year. If the production car is similar to that, we'll be extremely jealous of everybody in Europe who gets to buy the Stinger-looking vehicle. As far as specs go, Kia hasn't given any hints. Rumors point to a 1.6-liter turbocharged four-cylinder with 201 horsepower and 195 pound-feet of torque as at least one of the available engines. From what we can see on this prototype, the grille has retained its shape and style – even the little GT badge remains. Here's hoping the best bits from the concept make it into production without too many alterations. Kia is definitely getting it right with design as of late with the Stinger and soon-to-be-announced ProCeed GT. Sadly, all that those of us in the U.S. can do now is look from afar. Related Video: Featured Gallery Kia ProCeed GT: Spy Shots View 11 Photos Spy Photos Paris Motor Show Kia Wagon