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HomeAutomobileCroatian EV supercar maker Rimac raises 500 million euros

Croatian EV supercar maker Rimac raises 500 million euros


Rimac Group, the Croatian firm greatest identified for its 1,900 horsepower Nevera electrical sports activities automotive, stated it has raised 500 million euros (about $537 million) from traders together with Goldman Sachs, Porsche and a know-how fund suggested by Japan’s SoftBank.

The brand new funding spherical values Rimac at over 2 billion euros.

Rimac made headlines final 12 months when it agreed to take a controlling interest in Bugatti, the ultra-exclusive French automaker that had lengthy been a part of the Volkswagen Group. As a part of that deal, Bugatti and Rimac’s sports-car enterprise have been mixed in a three way partnership between Rimac and VW subsidiary Porsche, with Rimac holding a 55% stake.  

The brand new funding is predicted to speed up Rimac’s pivot away from its roots as a small-scale producer of high-end electrical sports activities vehicles. It should proceed to fabricate the $2.4 million Nevera by way of the three way partnership with Porsche, in addition to a sequence of latest fashions for Bugatti. However now it plans to focus a lot of its effort, and most of its contemporary capital, on its Rimac Know-how subsidiary, which develops and manufactures elements for high-performance electrical and hybrid autos made by different automakers.  

Rimac Know-how has already attracted a number of big-name automaker shoppers — together with Ferrari, Hyundai, Jaguar, Mercedes-Benz, Porsche and Renault — and previous investments from each Hyundai and Porsche.

Rimac stated it would use this new capital infusion to rent 700 new staff, to open a sequence of latest workplaces in Europe, and to construct out a brand new headquarters presently underneath building close to Zagreb, Croatia’s capital.

That new headquarters facility — which can embrace manufacturing and warehouse house in addition to workplaces and laboratories — would be the largest constructing in Croatia when it’s accomplished subsequent 12 months, CEO Mate Rimac instructed reporters in a briefing Tuesday.



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