Croatian EV supercar maker Rimac raises 500 million euros


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.


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