February 7, 2025

Louis I Vuitton

Savvy Car Technicians

Croatian EV supercar maker Rimac raises 500 million euros

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Rimac Group, the Croatian corporation finest recognised for its 1,900 horsepower Nevera electric sports auto, stated it has lifted 500 million euros (about $537 million) from buyers like Goldman Sachs, Porsche and a technologies fund recommended by Japan’s SoftBank.

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

Rimac made headlines past 12 months when it agreed to get a controlling interest in Bugatti, the ultra-exceptional French automaker that experienced long been portion of the Volkswagen Team. As aspect of that offer, Bugatti and Rimac’s athletics-motor vehicle business enterprise were mixed in a joint enterprise involving Rimac and VW subsidiary Porsche, with Rimac keeping a 55% stake.  

The new investment is expected to accelerate Rimac’s pivot away from its roots as a tiny-scale manufacturer of significant-stop electric powered sports activities cars. It will carry on to manufacture the $2.4 million Nevera through the joint enterprise with Porsche, as effectively as a series of new products for Bugatti. But now it designs to target considerably of its effort, and most of its new capital, on its Rimac Technologies subsidiary, which develops and manufactures factors for high-performance electric and hybrid cars designed by other automakers.  

Rimac Know-how has now attracted several huge-identify automaker consumers — which includes Ferrari, Hyundai, Jaguar, Mercedes-Benz, Porsche and Renault — and previous investments from both equally Hyundai and Porsche.

Rimac stated it will use this new funds infusion to retain the services of 700 new workforce, to open a collection of new workplaces in Europe, and to create out a new headquarters presently beneath design in close proximity to Zagreb, Croatia’s capital.

That new headquarters facility — which will include manufacturing and warehouse place as properly as workplaces and laboratories — will be the major building in Croatia when it is finished next year, CEO Mate Rimac advised reporters in a briefing Tuesday.

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