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bne Tech
May 17, 2019 www.intellinews.com I Page 23
Hyundai signs €80mn partnership deal with Croatia's Rimac Automobili
South Korean carmaker Hyundai Motor Group has signed a €80mn strategic partnership deal with Croatia's Rimac Automobili, according to which the two companies will collaborate on the development of two high-performance electric vehicles by 2020, Rimac said on May 14.
The technology partnership deal with Rimac Automobili envisages a €64mn investment by Hyundai Motor Group and a €16mn investment by its subsidiary Kia Motors Corporation.
The companies will work together to develop
an electric version of Hyundai Motor’s N brand midship sports car and a high-performance fuel cell electric vehicle.
Founder and CEO of Rimac Automobili, Mate Rimac, and Euisun Chung, executive vice president of Hyundai Motor Group, shake hands after the deal is signed.
“Hyundai Motors wants to speed up its transition to clean mobility and position itself as a global leader in launching this industry change,” the press release said. Among the steps it plans to take are to launch 44 electrified models by 2025.
Rimac has grabbed the attention of international carmakers as the industry focus shifts towards electric vehicles. The Croatian company already has a partnership with Porsche, which in 2018 acquired a 10% stake in the Croatian company as part of its electrification efforts.
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Russia's Yandex.Market seeks to expand storage capacity in Moscow
Yandex.Market, the joint venture of Russian internet major Yandex and country's largest bank Sberbank, seeks to rent over 150,000 sqm in two logistics hubs in the Moscow region, Vedomosti daily reported on May 16 citing unnamed sources close to the deal.
As reported by bne IntelliNews, Russian e-com- merce operators have been driving warehouse demand, with online businesses accounting for circa 25% of warehouse space leases in 2019.
Reportedly the space at the Sofyno and Tomilino hubs would be used for Yandex.Market’s Beru marketplace, focusing on Russian-made products. At the end of 2018 Yandex.Market
also launched a beta-version of a cross-border marketplace Bringly. Beru already operates one warehouse in the southern city of Rostov-on-Don.
Storage space of 150,000mn sqm in Moscow is comparable to that of main competitors of Yandex.Market.