Croatian electric hypercars manufacturer Rimac Automobili has secured 80 million euros ($89 million) in an investment round.
Rimac Automobili secured the new funds from South Korean automotive manufacturers Hyundai Motor and Kia Motors.
Under the financing deal, Hyundai Motor pumped in $71 million; and Kia Motors invested $18 million in Rimac Automobili.
As part of the move, Hyundai Motor, Kia Motors and Rimac Automobili will work closely together to develop an electric version of Hyundai Motor’s N brand midship sports car and a high-performance fuel cell electric vehicle.