- Rimac group announces new €500 million investments
- Porsche, SoftBank and Goldman Sachs led the fresh investment round
- Rimac will continue to make luxury market EVs rather than mass Market Evs
Rimac Group, a Croatian manufacturer of exotic electric supercars that now owns Bugatti, announced a new investment of €500 million ($536 million). Porsche, which currently owns nearly a quarter of the company, is one of the investors in the fresh round.
Rimac Automobili was created in 2009 with the purpose of manufacturing high-horsepower electric supercars. Other automakers, such as Aston Martin and Sweden’s Koenigsegg, have also collaborated with the company to design and produce high-performance electric drive components for high-end cars.
Last year, the corporation split its supercar-building operations from its EV components division, with Rimac Group controlling both. Rimac’s supercar division has acquired Bugatti, a Volkswagen Group spinoff. Rimac owns the majority of Bugatti Rimac, although Porsche, which is owned by Volkswagen and owns the part mentioned above of Rimac Group overall, owns 45% of the company. Rimac Group still owns 100% of the EV components industry.
SoftBank and Goldman Sachs led the fresh investment round. In addition, this latest investment round included participation from InvestIndustrial, a European investment organization already a key Rimac investor. According to the company, Rimac’s largest shareholder is its 34-year-old founder, Mate Rimac.
According to Mate Rimac, this is the largest single round of financing Rimac has ever received. It equates to a total valuation of €2 billion for the company.
Rimac Technologies, a completely owned part of the Rimac Group, continues to sell important electric vehicle components to other firms, including electric vehicle and hybrid batteries, electric motors, and fully functional chassis. It has collaborated with companies such as Aston Martin and Automobili Pininfarina. Mate Rimac stated that the company would continue to focus on developing components for luxury and high-performance electric vehicles rather than mass-market EVs.