Croatian EV supercar maker Rimac raises 500 million euros


Rimac Team, the Croatian firm best recognized for its 1,900 horsepower Nevera electrical sports activities vehicle, reported it has elevated 500 million euros (about $537 million) from buyers such as Goldman Sachs, Porsche and a technological know-how fund advised by Japan’s SoftBank.

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

Rimac produced headlines past calendar year when it agreed to consider a controlling curiosity in Bugatti, the ultra-special French automaker that had extended been element of the Volkswagen Team. As portion of that offer, Bugatti and Rimac’s sports activities-car company were mixed in a joint venture between Rimac and VW subsidiary Porsche, with Rimac keeping a 55% stake.  

The new investment is anticipated to accelerate Rimac’s pivot away from its roots as a smaller-scale producer of superior-conclusion electrical sporting activities autos. It will continue to manufacture the $2.4 million Nevera by means of the joint undertaking with Porsche, as nicely as a series of new types for Bugatti. But now it strategies to target significantly of its effort and hard work, and most of its fresh capital, on its Rimac Know-how subsidiary, which develops and manufactures elements for large-general performance electrical and hybrid vehicles designed by other automakers.  

Rimac Engineering has presently attracted a number of huge-name automaker purchasers — like Ferrari, Hyundai, Jaguar, Mercedes-Benz, Porsche and Renault — and earlier investments from both equally Hyundai and Porsche.

Rimac reported it will use this new cash infusion to hire 700 new staff members, to open up a collection of new places of work in Europe, and to construct out a new headquarters at present less than design in close proximity to Zagreb, Croatia’s money.

That new headquarters facility — which will involve production and warehouse house as properly as offices and laboratories — will be the premier setting up in Croatia when it is done future calendar year, CEO Mate Rimac instructed reporters in a briefing Tuesday.

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