Croatian EV supercar maker Rimac raises 500 million euros


Rimac Team, the Croatian firm finest known for its 1,900 horsepower Nevera electric athletics vehicle, explained it has lifted 500 million euros (about $537 million) from investors which include Goldman Sachs, Porsche and a know-how fund advised by Japan’s SoftBank.

The new funding spherical values Rimac at in excess of 2 billion euros.

Rimac designed headlines last year when it agreed to get a managing fascination in Bugatti, the extremely-special French automaker that experienced extended been element of the Volkswagen Group. As component of that offer, Bugatti and Rimac’s sporting activities-car company have been blended in a joint venture in between Rimac and VW subsidiary Porsche, with Rimac keeping a 55% stake.  

The new financial commitment is predicted to speed up Rimac’s pivot away from its roots as a little-scale manufacturer of high-finish electric sports activities cars. It will continue to manufacture the $2.4 million Nevera via the joint enterprise with Porsche, as properly as a sequence of new models for Bugatti. But now it strategies to concentration a lot of its work, and most of its refreshing funds, on its Rimac Technological know-how subsidiary, which develops and manufactures factors for high-performance electrical and hybrid automobiles built by other automakers.  

Rimac Technological innovation has previously captivated numerous large-title automaker shoppers — including Ferrari, Hyundai, Jaguar, Mercedes-Benz, Porsche and Renault — and past investments from both Hyundai and Porsche.

Rimac mentioned it will use this new money infusion to retain the services of 700 new workers, to open a collection of new places of work in Europe, and to establish out a new headquarters at present less than design around Zagreb, Croatia’s capital.

That new headquarters facility — which will include production and warehouse space as very well as offices and laboratories — will be the most significant setting up in Croatia when it is finished future year, CEO Mate Rimac advised reporters in a briefing Tuesday.


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By Kelli