Rimac Group, which makes electric vehicle components and recently acquired the famous Italian supercar brand Bugatti now has half-a-billion Euros to make super fast, super fancy, high end electric vehicles and their requisite components.
The Rimac brand has grown nearly as quickly as an electric car can accelerate. The Croatian-based business, which is the brain-child of Mate Rimac is now worth over $2 billion and has big international investors like Goldman Sachs Asset Management, Porsche, and InvestIndustrial which all have a stake in the company's success.
Rimac made a name for itself as a technology partner to global automotive equipment manufacturers by designing and manufacturing batteries and axles for electric vehicles.
Late last year, the company vaulted into the rarified world of hypercar manufacturing by merging its own Nevera hypercard manufacturing line with Bugatti Automobiles -- one of the world's most recognized names in luxury cars.
Now, the new money will help Rimac accelerate both lines of business, with a focus on scaling up its parts and supplies unit.
The company has partnerships with Porsche (a longtime investor), as well as Hyundai, Automobili Pininfarina, and Aston Martin.
"As we look to rapidly scale the Group, establish new manufacturing processes to meet global automotive demand, recruit 700 talented team members in 2022, open new offices in several locations across Europe and expand our new production facilities at the Campus and beyond, the backing of our expert investors will be an invaluable guide through this uncharted territory," said the Rimac's eponymous owner.
The company's new campus will become the headquarters of Bugatti Rimac, which will produce the Nevera production car -- designed to be the world's fastest accelerating production car engineered from the ground up by Rimac.
The same campus will produce tens of thousands of component parts for electric vehicles each year, according to a statement from the company.
“We’re witnessing a rapid demand for electrification in an industry facing significant challenges adapting to this technological shift," said Jimi Macdonald, the investor for SoftBank Investment Advisers, in a statement. "Rimac has quickly established itself as a leading EV technology partner to global OEMs supporting their transition to an electric future. We are pleased to support Mate and his team in building on this success and taking Rimac to the next level.”