The Rimac Group has raised another 500 million dollars to help build future cars.
The latest round of funding was led by SoftBank Vision Fund 2 and Goldman Sachs Asset Management. Rimac founded his company in a garage.
Rimac said during a call with reporters on May 31 that they don't want to be fully dependent on them. The company formed in 2021 between Bugatti,Porsche, and Rimac has a 45% stake in it.
Rimac Group is an umbrella company that holds a 45% stake in Rimac and 100% of Rimac Technology. Bugatti Rimac owns 100% of Rimac Automobili, the group's hypercar division. The rest of the Rimac is owned byPorsche.
The Croatia-based group oversees the manufacture of multimillion-dollar cars like the Bugatti Bolide and the Rimac Nevera electric hypercar, as well as upcoming vehicles that bear the Rimac brand name. The first customer deliveries of the Nevera will be in the next few weeks.
It is also working on projects for other automakers. A person wouldn't comment on specific vehicles.
Rimac said he plans to use the additional funding to hire 700 more workers and complete construction of the largest such complex in Croatia by next year. Some Rimac documents claim 25 acres, while others claim 50 acres. The space will be used to build high-end vehicles, but the company declined to name them.
Most of the capital will be used to scale up to meet the demand for batteries and other systems that help the car industry go electric. Rimac Technology will produce tens of thousands of components annually, with products ranging from hybrid and fully electric battery systems to full rolling chassis. Existing clients that have said they will sell hybrid and electric vehicles such as the Koenigsegg Gemera, will be able to take advantage of such vehicles, technology, and components.
The deputy chairman of the executive board ofPorsche said that they were already convinced of the company's potential and were pleased that they were able to contribute to its progress.
The brand and its founder have made strong progress. It sold out all of its vehicles after receiving 150 orders for its cars last year. The Bolide sold out of its 40 unit allocations in two months.
Rimac denied rumors that one of its partnerships had soured. A fully electric variant of the N sports car and a performance fuel-cell vehicle will be developed by the Croatian company with the investment of $90 million by the Korean companies. When production would start for those two vehicles was not immediately answered by the company.
Over time, the growth has been persistent, and we are doubling every two years.
Rimac's growth doesn't come from China, unlike where the big market is for luxury saloons. Europe and North America are where it comes from.
He said that affluent Chinese buyers don't buy supercars in China because of regulatory challenges.
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