Croatian EV supercar maker Rimac raises 500 million euros

Kristin

Rimac Team, the Croatian firm ideal acknowledged for its 1,900 horsepower Nevera electric powered athletics automobile, reported it has lifted 500 million euros (about $537 million) from traders including Goldman Sachs, Porsche and a engineering fund advised by Japan’s SoftBank.

The new funding spherical values Rimac at more than 2 billion euros.

Rimac designed headlines very last yr when it agreed to just take a controlling desire in Bugatti, the extremely-distinctive French automaker that had extensive been part of the Volkswagen Group. As section of that deal, Bugatti and Rimac’s sports activities-automobile organization ended up put together in a joint venture involving Rimac and VW subsidiary Porsche, with Rimac holding a 55% stake.  

The new financial investment is expected to speed up Rimac’s pivot away from its roots as a smaller-scale manufacturer of high-conclusion electrical sports cars. It will carry on to manufacture the $2.4 million Nevera through the joint venture with Porsche, as very well as a collection of new models for Bugatti. But now it ideas to target significantly of its hard work, and most of its fresh new capital, on its Rimac Know-how subsidiary, which develops and manufactures parts for higher-general performance electric and hybrid automobiles created by other automakers.  

Rimac Technologies has by now captivated numerous large-title automaker customers — together with Ferrari, Hyundai, Jaguar, Mercedes-Benz, Porsche and Renault — and earlier investments from the two Hyundai and Porsche.

Rimac stated it will use this new cash infusion to employ 700 new staff members, to open a series of new workplaces in Europe, and to make out a new headquarters at the moment under construction in close proximity to Zagreb, Croatia’s funds.

That new headquarters facility — which will include producing and warehouse place as well as places of work and laboratories — will be the most significant developing in Croatia when it is completed up coming yr, CEO Mate Rimac informed reporters in a briefing Tuesday.

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