Rimac Group, the Croatian firm very best known for its 1,900 horsepower Nevera electric athletics auto, reported it has raised 500 million euros (about $537 million) from buyers which includes Goldman Sachs, Porsche and a technological innovation fund recommended by Japan’s SoftBank.
The new funding round values Rimac at around 2 billion euros.
Rimac created headlines final calendar year when it agreed to acquire a controlling curiosity in Bugatti, the extremely-exclusive French automaker that experienced extensive been element of the Volkswagen Team. As element of that offer, Bugatti and Rimac’s sports-automobile business had been blended in a joint enterprise in between Rimac and VW subsidiary Porsche, with Rimac holding a 55% stake.
The new expenditure is expected to accelerate Rimac’s pivot absent from its roots as a modest-scale manufacturer of significant-finish electric powered sporting activities autos. It will proceed to manufacture the $2.4 million Nevera via the joint undertaking with Porsche, as nicely as a collection of new types for Bugatti. But now it plans to focus a lot of its energy, and most of its fresh funds, on its Rimac Engineering subsidiary, which develops and manufactures components for high-overall performance electric powered and hybrid cars produced by other automakers.
Rimac Know-how has by now captivated quite a few major-identify automaker customers — which includes Ferrari, Hyundai, Jaguar, Mercedes-Benz, Porsche and Renault — and previous investments from both of those Hyundai and Porsche.
Rimac mentioned it will use this new cash infusion to seek the services of 700 new workforce, to open a series of new workplaces in Europe, and to establish out a new headquarters presently beneath design in the vicinity of Zagreb, Croatia’s cash.
That new headquarters facility — which will include things like production and warehouse space as very well as places of work and laboratories — will be the greatest creating in Croatia when it is done up coming year, CEO Mate Rimac told reporters in a briefing Tuesday.