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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."

Minivans and hybrids shopped by men and women equally

Men love fast, exotic cars, and women want something safe and practical – at least that is the way conventional thinking goes. But a new study challenges these old beliefs. According to the auto information aggregators at iSeeCars, both sexes shop for minivans and hybrids equally. The study also dug deeper into the different browsing habits between genders. For instance, women are twice as likely to shop for Kia and 67 percent more likely to shop for Hyundai. Men are seven percent more likely to buy American cars. Both sexes shop the German brands equally. It seems that men might be slightly greener in their shopping because they are twice as likely to browse electric cars and two and a half times more likely to look at diesels. Still, the old stereotype of men wanting a more performance-oriented car is not entirely false. They also are more likely to look at cars that cost over $45,000, and men are still more likely to buy a sports car. "Men like fast, flashy cars. They are performance oriented, even if they have to shell out more money," Phong Ly, cofounder and CEO of iSeeCars, said in an interview with CBS MoneyWatch. "Women are looking for the best value." The iSeeCars study got its data directly from dealers and online sellers like eBay Motors, then determined sex based on first name and excluded gender-neutral names. What it shows is that even if men might like browsing for fast cars, practicality and economy win out in the end. It's still fun to look, though. News Source: iSeeCars via CBS News MoneyWatchImage Credit: Shutterstock / Deklofenak Hyundai Kia Car Buying Minivan/Van Electric Hybrid

2017 Hyundai Ioniq takes three-pronged approach to electrification

The Geneva Motor Show may be dominated by super/hypercars, but there is some more sensible metal on display. And one of the most reasonable cars might be the trifecta of Hyundai Ioniq models. This three-prong approach to electrification is a very aggressive move for Hyundai. A hybrid wouldn't be a big deal. Nor would a plug-in-electric model. But launching both of those vehicles alongside a pure EV is a very bold decision. In fact, if the full Ioniq range were to launch in the United States – which still isn't a certainty – Hyundai would be one of the only brands to offer all three branches of electrification in the same showroom. The hybrid model outguns the 121-system-horsepower Toyota Prius. Thanks to its 1.6-liter Kappa four-cylinder, 43-hp electric motor, and 1.56-kWh battery pack, there's a total of 139 hp and up to 195 pound-feet of torque. The plug-in model makes some changes to that formula, significantly increasing the size of the battery pack to a larger 8.9 kWh and increasing the power of the electric motor to an even 60 hp. Hyundai hasn't said if system output has been changed, but we do know the PHV will cover 31 miles on pure electricity. View 14 Photos As we covered in our original post, the EV Ioniq is something of an unknown quantity. Hyundai's lips loosened slightly in Geneva, though, revealing that the electric motor will produce up to 218 lb-ft of torque. That's in addition to 118 horsepower and an estimated range of 155 miles. And not that EV drivers are known speed demons, but Hyundai claims its newest EV will hit 103 miles per hour. This estimated range and torque output best America's two most notable EVs, the Ford Focus Electric and Nissan Leaf, although it's fair to point out that this duo is relatively long in the tooth. While it seems plausible that Hyundai will at least offer part of the Ioniq range in America, at this point it's just too early to be certain of anything.