Hyundai and subsidiary Kia have provided $93.7m in capital for electric vehicle developer Rimac Automobili through a partnership deal that will involve them collaborating on new models.

Croatia-based supercar and electric bicycle maker Rimac Automobili attracted €80m ($93.7m) in funding on Tuesday in a round led by automotive manufacturer Hyundai Motor Company. Kia Motors, a subsidiary of Hyundai, also contributed to the round. Hyundai supplied approximately $75m, while Kia provided the remaining $18.7m. Founded in 2009, Rimac has developed a plug-in electric…

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