Rimac Scores $536 Million Investment In Effort To Bolster Its Technology Business
When the Rimac Nevera set the production world record for the quarter-mile last year it created a lot of publicity. What many fans might not know is that, apart from Bugatti Rimac, the Rimac Group also comprises of Rimac Technology, an independent subsidiary of the brand that builds high-performance electric components for other OEMs. Now, an investment of $536 million will help improve that business even further.
As reported by CNBC, Rimac Technology already has quite a high-profile list of clientele, which includes Ferrari, Jaguar, Mercedes-Benz, and Renault. In addition, both Porsche and Hyundai have made past investments in the brand. With such fast growth, Rimac Technology sought out this additional capital to keep pace.
Now, the bulk of the $536 million investment will go directly into the Technology business starting in part with the hiring of some 700 new employees. At the same time, the company is still in the midst of building its new headquarters in Zagreb, Croatia.
According to Electrek, Matt Rimac himself signaled the impact of this deal: “Rimac has ambitious growth plans in the next few years, and we are humbled by the support of significant new investors. 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.
“I would also like to personally thank all of our employees as without their hard work, loyalty and enthusiasm for the Rimac vision, we wouldn’t be here today.” Rimac says that the company is “doubling basically every one and a half to two year,” which bodes well for its future.
Making the technology side of the business such a large focus could be a major step towards even more success. Just last year, Rimac entered into a new partnership with Bugatti and Porsche and is set to deliver its first customer-spec Nevera in just a few weeks.