Serving as a diverse company, Bugatti Rimac (active from November 21) falls within the clientele of the Rimac Technology business. The Rimac Group is a shareholder in Bugatti Rimac with 55% stake and Porsche with the following 45%. Rimac Group now owns the individual company of Rimac Technology. The fresh company has goals to develop its areas of expertise in the engineering, development, production and supply of differing systems that Rimac is renowned for – such as battery systems, electric drive units, electronic systems and user interface components.
A company with superior electronic expertise, Rimac Technology works closely with automotive manufacturers across Europe. These two realms collaborate in projects like the expansion of the Nevera, taking customers step by step through the process of product creation. Rimac Technology is especially known for their work with international OEMs such as Porsche, Hyundai, Kia, Automobili Pininfarina, Koenigsegg and Aston Martin, with other projects yet to be announced. With the development of Rimac Technology’s manufacturing capacities, the brand has goals to create tens of thousands of advanced systems per year by 2024.
The solely independent company works as an individual manufacturer, including sponsors into the Rimac Group business. Rimac Technology prioritizes clientele confidentiality with all projects, and that each endeavor will be completed to request of necessary cost, performance and within sufficient time.
Mate Rimac, CEO of Rimac Group, now heads both Bugatti Rimac and Rimac Technology. Although both the brands operate separately, they both work under Bugatti Rimac with shared R&B along with other roles. The potential of both Bugatti and Rimac automobiles will be corresponded to Bugatti Rimac, merging ideas and innovation in research and development, production and other areas.
Mate Rimac states, “If we go back to the very beginning of the Rimac Automobili business in 2009, the dream for me was to build my own electric hypercar. With Nevera we believe we’ve achieved that dream, creating a car that is not only the fastest accelerating in the world, but also comfortable, usable and brimming with our advanced technology. But Nevera isn’t just a standalone project, it’s a showcase of what Rimac Technology can do free from the costs or volume restraints of a large-scale manufacturer. We believe once you’ve pushed the technology as far as it can go, it makes it a lot easier to scale up to higher volume and lower cost. The e-Axles, Torque Vectoring, battery systems, connectivity, AI, and countless other electrical systems on Nevera are all our own creations, and each of them can be scaled to suit applications you might find on a range of higher volume performance vehicles.
Separating the technology business into its own entity is a natural step as the focus of the two markets, hypercars and components, are completely different. For example, the products of Rimac Technology, while being on the cutting edge of performance, also need to be extremely cost competitive and producible at huge scales, while those issues are secondary for the hypercar business. This new structure will enable each company of the Rimac Group to flourish to their full potential, while still sharing the synergies between them – for example using our own hypercars as testbeds for new technology before we offer it to other OEMs.”
Rimac Automobili officially joins forces with Bugatti Automobiles under the recently announced, Bugatti Rimac d.o.o. The new company sees two motor vehicle powerhouses generate an exciting movement in the automotive and technology industries, originally initiated and strongly supported by the sports car manufacturer Porsche AG.
Rimac’s short but rich 10-year history from garage start-up by one man, Mate Rimac, took a big leap forward to begin official operating under Bugatti Rimac as of November 1st.
The Rimac Group is the major shareholder in Bugatti Rimac with a 55% stake. Mate Rimac will retain his shareholding in Rimac Group at 35%, with Porsche at 22%, Hyundai Motor Group doing the same at 11%, and other investors making up 32%. The development, production, and supply of battery systems, drivetrains, and other EV components that Rimac is known for and trusted by, will be separated into a new entity, Rimac Technology, that is 100% owned by the Rimac Group.
Bugatti Rimac has the unique combination of two automotive and technological trailblazers. Rimac’s distinctive agility, technical expertise, and relentless innovation in the EV sphere, along with Bugatti’s 110-year heritage of design and engineering of some of the world’s most iconic hypercars, are now combined in the leading hypercar company. Porsche plays a strong role in the joint company as a strategic partner. Along with two managers, the Stuttgart based sports car manufacturer appointed two Supervisory Board members, Oliver Blume and Lutz Meschke.
Mate Rimac’s leadership and strategic direction that has allowed Rimac to become an industry frontrunner means he is exceptionally skilled to lead the company as Chief Executive Officer. As CEO of Rimac Group, he runs both Bugatti Rimac and the new division, Rimac Technology.
Bugatti Rimac’s global headquarters is situated at Rimac’s current base on the outskirts of Zagreb, Croatia, but in time will transition to the recently announced €200M and 200.000m2 Rimac Campus, also serving as the home of Rimac Technology. With construction having now begun, joint research and development of future Rimac Automobili and Bugatti hypercars will ultimately take place there, with projected opening in 2023.
High-tech innovation forms the basis of the state-of-the-art facility, with the capacity to host 2,500 curiosity-driven people and a hive of groundbreaking developments. Bugatti Rimac operates with 435 employees as part of the new company, 300 of headquartered in Zagreb and 135 in Molsheim, France. In addition,180 people at Bugatti Engineering’s location in Wolfsburg, Germany, are supporting the new company. Rimac Technology consists of over 900 employees whilst the Rimac Group tackles over 1,300 employees across its various locations.
Bugatti Rimac’s new Board of Management has determined Christophe Piochon as Chief Operating Officer. He formerly held the position of Director General at Bugatti Automobiles and guarantees the continuation of the manufactory with its worldwide outstanding quality. Larissa Fleischer became Chief Financial Officer, previously being the head of controlling at Porsche in the areas of digitalization and the development of new business models. Lastly, Emilio Scervo is named Chief Technology Officer, having held the same title before at Rimac Automobili.
Rimac Automobili and Bugatti Automobiles will each continue to operate as separate brands and manufacturers, retaining their individual production facilities respectively, as well as the distribution channels. Rimac Technology will continue to innovate, developing vehicle systems and technologies for many global OEMs.
Commenting on the first day of Bugatti Rimac operations, CEO Mate Rimac says, “I am honored to be leading this new fusion of automotive minds and begin what will no doubt be a successful, revolutionary and exciting new chapter for everyone involved. I am also extremely curious to oversee the profound impact Bugatti Rimac will have on the industry, and I look forward to developing innovative new hypercars and technologies.”
He also claims that “[it’s] difficult to find a better match than Rimac and Bugatti. What each party brings to the table in terms of technical expertise, know-how and automotive history makes for an electrifying recipe. Rimac’s fast-paced operations and electrification skills are the perfect complement to Bugatti’s exceptional heritage and craftsmanship. Stay tuned for some truly extraordinary projects in the future.”
“I am convinced that we have found the right mix of experience and know-how, innovative strength and team spirit for the management,” says Lutz Meschke, Deputy Chairman of the Executive Board and member of the board for Finance and IT at Porsche AG. “That’s why I’m very optimistic and because the project is very close to my heart, I will continue to accompany it closely and passionately in the future.”
Oliver Blume, Chairman of the Board of Management at Porsche, named this merger as “the perfect solution” for everyone involved, “Together, we are creating a high-performance automotive company. We have succeeded in positioning the traditional Bugatti brand with its charisma for the future in a way that creates value. Bugatti embodies fascination and passion, and Rimac has great innovative strength and tech expertise.”
Hyundai has come a long way in precisely 51 years of existence. The South Korean automaker has been manufacturing automobiles in the U.S. since 1986. Today, the industrial conglomerate has the world’s first all-electric compact SUV. On November 20, 2019, Bret Michaels helped the manufacturer celebrate the fresh year, helping them rock out the night.
Hyundai’s all-electric vehicle is the alluring KONA. Starting price is around 36,950 and tops out at approximately $45,200 (the ultimate package). This car allows you to drive 258 miles before recharge. Moreover, you have 2 alternatives for charging your money saver: 7.2 kW AC Wall Box Charger as well as a 2.8 kW Portable Charger. According to India Today, The 7.2 kW AC Wall Box Charger will take around 6 hours and 10 minutes for a full charge, while the 2.8 kW Portable Charger will take 19 hours to completely power the battery.
Overall, this vehicle is an easy-to-use showstopper.
Hyundai CRADLE, Hyundai Motor Company’s corporate venturing and open innovation business announced today its strategic investment in allegro.ai, a leading technology company specializing in deep learning (DL) – based computer vision. This partnership with allegro.ai will allow to speed up deployment of AI technology in many business areas. This will improve the quality of Hyundai’s products, thereby increasing customer satisfaction while creating a safer driving environment.
Founded in 2016, allegro.ai offers the first end-to-end DL lifecycle management solution focused on deep learning as it applies to computer vision. The company’s platform simplifies the process of developing and managing deep learning-powered solutions – such as autonomous vehicles, drones, security, logistics and others.
“Deep learning computer vision is one of the core technologies that can be applied to autonomous driving to navigate roads and make quick decisions in real-time – and allegro.aiis clearly an innovation leader in that field,” said Ruby Chen, Head of Investment at Hyundai CRADLE Tel Aviv. He added, “Our investment in allegro.ai is a further step in enhancing our presence in the Israeli market, a global leader of technological innovation in the fields of automation, artificial intelligence and deep learning. This is our fifth investment in an Israeli company and our activities will continue to grow the coming year”.
“We are proud to partner with Hyundai and share Hyundai’s belief that AI empowers the industry to provide greater road safety, autonomy, to better understand customers’ needs and to help broaden their experiences,” said Nir Bar-lev CEO and Co-founder of allegro.ai. “Whether a company is developing autonomous vehicles, drones, security, or other types of applications, allegro.ai makes it easy for them to manage their data-sets and build deep learning-based solutions while guaranteeing complete and confidential control of their data.
New-Vehicle Initial Quality Improves Again, J.D. Power Finds
Genesis, Kia and Hyundai Are Three Highest-Ranked Brands
New-vehicle quality has improved for the fourth consecutive year—by 4% from 2017—and has reached its best level ever, according to the J.D. Power 2018 U.S. Initial Quality Study (IQS),SM released today.
Initial quality is measured by the number of problems experienced per 100 vehicles (PP100) during the first 90 days of ownership, with a lower score reflecting higher quality. In this year’s study, quality improves across six of the eight categories measured, with 21 of the 31 brands included in the study improving their quality from 2017. The industry average of 93 PP100 is 4 PP100 better than in 2017.
“There’s no question that most automakers are doing a great job of listening to consumers and are producing vehicle quality of the highest caliber,” said Dave Sargent, Vice President of Global Automotive at J.D. Power. “That said, some vehicle owners are still finding problems. As vehicles become more complex and automated, it is critical that consumers have complete confidence in automakers’ ability to deliver fault-free vehicles.”
Following are some key findings of the 2018 study:
• Most vehicle areas improve: Of the eight categories measured,vehicle exterior improves the most, now at 15.2 PP100, compared with 16.6 PP100 in 2017. Improvements include less wind noise and fewer paint imperfections. Significant year-over-year improvements also occur in the seats (8.0 PP100 vs. 8.7 PP100) and vehicle interior (14.3 PP100 vs. 14.7 PP100) categories.
• Porsche 911 posts best score of any model: The Porsche 911 has the lowest overall problem level (48 PP100) of any model this year. This is also the lowest level recorded in this generation of the study (2013-2018). The U.S. Initial Quality Study, which was first published in 1987, is currently in its fourth generation.
• All domestic corporations improve faster than the industry: Fiat Chrysler Automobiles (7 PP100 improvement), Ford Motor Company (5 PP100 improvement) and General Motors (5 PP100 improvement) all outpace the industry average rate of improvement (4 PP100).
• Infotainment problems are decreasing: Audio/Communication/Entertainment/Navigation (ACEN) remains the most problematic category for new-vehicle owners. However, this area has improved for the third consecutive year, led by fewer problems with built-in voice recognition systems.
• Globalization of auto industry continues: Vehicles in the 2018 study are manufactured in 25 countries, 11 of which weren’t present in the study five years ago. Those 11 countries include Brazil, China, Finland, India, Italy, Netherlands, Poland, Serbia, Spain, Thailand and Turkey. The other 14 countries include Austria, Belgium, Canada, France, Germany, Hungary, Japan, Mexico, Slovakia, South Africa, South Korea, Sweden, United Kingdom and United States.
• Increasing problems with driver assistance systems: As automakers add more advanced driver assistance systems to their vehicles, more consumers are experiencing problems. The level is still low (3.5 PP100 on average) but has been increasing by about 20% a year for the past three years.
“As we look to the future, avoiding problems with safety and driver assistance technology is critical,” Sargent said. “In an era of increasingly automated vehicles, vehicle owners have to be comfortable using foundational technologies like lane keep assistance and collision avoidance. Otherwise, automakers will not easily overcome consumer resistance to fully automated (driverless) cars.”
Highest-Ranked Brands and Models
Genesis ranks highest in overall initial quality with a score of 68 PP100. Kia (72 PP100) ranks second and Hyundai (74 PP100) ranks third. This is the first time that three Korean brands are at the top of the overall ranking, and it is the fourth consecutive year that Kia is the highest-ranking Mass Market brand. Porsche (79 PP100)ranks fourth and Ford (81 PP100) ranks fifth.
Mazda is the most-improved brand, with owners reporting 25 PP100 fewer problems than in 2017. Other brands with strong improvements include Mitsubishi (20 PP100 improvement), Cadillac (15 PP100 improvement), Infiniti (15 PP100 improvement), Hyundai (14 PP100 improvement) and Lexus (14 PP100 improvement).
The parent company receiving the most model-level awards for its various brands is Ford Motor Company (five awards), followed by Hyundai Motor Group (four),and BMW, General Motors and Nissan (three each).
• Ford Motor Company models that rank highest in their respective segments are Ford Expedition; Ford Mustang; Ford Super Duty; Lincoln Continental; and Lincoln MKC.
• Hyundai Motor Group models that rank highest in their segments are Genesis G90; Hyundai Tucson; Kia Rio; and Kia Sorento.
• General Motors models that rank highest in their segments are Buick Envision; Chevrolet Silverado; and Chevrolet Silverado HD.
• BMW models that rank highest in their segments are BMW 4 Series; BMW X1; and BMW X6.
• Nissan models that rank highest in their segments are Nissan Altima; Nissan Frontier; and Nissan Maxima.
Other models that rank highest in their respective segments are Acura ILX, Dodge Grand Caravan, Mercedes-Benz GLA and Toyota Corolla.
Plant Quality Awards
Toyota Motor Corp.’s Yoshiwara plant (Japan), which produces the Lexus LX and Toyota Land Cruiser, receives the Platinum Plant Quality Award for producing models with the fewest defects or malfunctions. Plant quality awards are based solely on defects and malfunctions and exclude design-related problems.
Toyota Motor Corp.’s Cambridge North (Canada) plant, which produces the Toyota Corolla, and Georgetown 3 (Ky.) plant, which produces the Lexus ES, each receive the Gold Plant Quality Award in a tie for the Americas region. BMW Group’s Dingolfing 02 (Germany) plant, which produces the BMW 6 Series and BMW 7 Series, receives the Gold Plant Quality Award for the Europe/Africa region.
The 2018 U.S. Initial Quality Study is based on responses from 75,712 purchasers and lessees of new 2018 model-year vehicles who were surveyed after 90 days of ownership. The study is based on a 233-question battery organized into eight vehicle categories designed to provide manufacturers with information to facilitate the identification of problems and drive product improvement. The study was fielded from February through May 2018.
Find detailed information on vehicle quality, as well as model photos and specs, at jdpower.com/quality
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. J.D. Power is a portfolio company of XIO Group, a global alternative investments firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.
Hyundai Motor will showcase a trio of new technologies at CES 2018 from January 9-12 at the Las Vegas Convention Center, all focused on connecting future technology with evolving mobility challenges. Hyundai’s next-generation hydrogen-powered fuel cell electric vehicle equipped with new Advanced Driver Assistance System (ADAS) technologies will be featured and its new name revealed.
The new fuel cell EV is the newest edition to the Hyundai’s eco-vehicle portfolio and it will help to fulfill Hyundai’s vision to offer clean mobility to the world. In addition, Hyundai will connect its progress on hydrogen-powered mobility to hydrogen-powered applications in the home via a section of the booth dedicated to the Hydrogen Life Vision.
Rounding out Hyundai’s future technology demonstrations will be a reimagined view from the driver’s perspective inside the Intelligent Personal Cockpit, featuring artificial-intelligence-enhanced voice recognition and vital sign-based wellness care, all from the comfort of the driver’s seat. The press conference will will be livestreamed at: http://youtu.be/dbiFJP1eD18.
At the press conference, Chris Urmson, the CEO of Aurora, will join key Hyundai executives as one of speakers to share details on the joint research and development of autonomous driving technology.
During the exhibition following the press day, Hyundai will display its cutting edge technologies and products at booth number 6329 in the North Hall of the Las Vegas Convention Center. H