Mate Rimac, founder of Rimac Automobili, shares his lessons learned from bootstrapping an electric vehicle company. 'We had circumstances where I can't even begin to explain how we survived.
Mate Rimacs story is a classic example of automotive legend. Rimac Automobili was founded in his garage by Mate Rimacs in 2009. It has since grown to more than 1,000 employees and supply contracts with major automakers such as Porsche.
It is not known how close the company was to bankruptcy. Mate Rimac spoke out during a chat at the virtual TC Sessions Mobility 2021 event. It was a wild ride. In the first seven years, it was like we were out of money and technically bankrupt every time.
TechCrunch's founder and CEO, Rimac Automobili, a Croatian manufacturer of electric cars and components, joined TechCrunch to discuss the company's Nevera vehicle and his interest in electric robotaxis. He also discussed the possibility of acquiring Bugatti. He shared his personal story, including the low points and how the company survived, and offered advice to other founders.
It was quite an experience.
Rimac Automobili has grown to be a household name in Croatia. Rimac currently is building a headquarters and technology campus, which will be completed by 2023 on a 49-acre property. The first few years of Rimac Automobilis' existence were far more lonely. Rimac stated in an interview that the company was close to failure many times even after it was recognized.