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Croatian unicorn Rimac Automobili gets €120M financial boost to develop its tech

Croatian electric vehicle maker Rimac got €120M from Italian investment firm Investindustrial, a leading European group of independently managed investment, holding and advisory companies with €11 billion of raised fund capital. 
Image credit: Rimac
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Croatian electric vehicle maker Rimac got €120M from Italian investment firm Investindustrial, a leading European group of independently managed investment, holding and advisory companies with €11 billion of raised fund capital. 

The Italian firm had also supported the hypercar maker in 2021, by leveraging its deep automotive experience, developed with current and prior investments in Ducati, Aston Martin, and Morgan Motors. 

„Investindustrial has committed a total of €120 million of investment in Rimac Group in several rounds of financing. While part of it has already been invested, this amount includes their participation in the next investment round for Rimac, which is being finalized soon,“ Marta Longin, head of marketing and communications at Rimac, tells The Recursive.

„The funds will be primarily used to further develop Rimac Technology as it commences large-volume series production of key electrification components for global OEMs (original equipment manufacturers),” she adds.

The Italian investment company is actively working on accelerating the transition to electrification by backing the best available technological solutions for high-performance electric vehicles developed by Rimac. 

Hypercars Rimac Nevera and the Bugatti Chiron are the company’s flagship products, which is also a majority shareholder in Bugatti Rimac. 

From garage company to global powerhouse

According to Rimac’s founder Mate Rimac, despite the company’s evolution from garage to global over the last decade, the EV maker is only at the the early stages of its long-term vision for the Rimac Group. 

“Next, we grow our family of hypercar models, we begin mass production of a number of major OEM (original equipment manufacturer) electrification projects and we explore the next revolution in transport, all while building our new home in Croatia and rolling out the Nevera to customers all over the world. This latest collaboration with Investindustrial not only secures our future ambitions but allows us to tap into decades of global experience that will help accelerate our vision and deliver it with the kind of precision and innovation that the Rimac Group has become known for,” Mate Rimac said in a statement.

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Sales of electric vehicles are expected to make up a third of the market by 2025 and more than 50% by 2030. 

Investindustrial’s investment and team has been supporting management as it continues to innovate, both developing world-leading electric and hybrid vehicles and providing leading OEMs with best-in-class EV technology, ultimately speeding up the world’s conversion to electric traction in support of the environmental and climate objectives of the UN’s 2030 agenda.

 “As Investindustrial we will put our skills and our international network at Rimac’s service. We want to be a solid, long-term partner in the implementation of the Group’s cutting-edge technologies, which are fundamental for pursuing the objective of further strengthening its leadership in the electric mobility sector,” Andrea C. Bonomi, Chairman of Investindustrial’s Industrial Advisory Board, commented.

Founded in 2009, Croatian unicorn Rimac Group now employs more than 1,300 people, developing and manufacturing electric hypercars and high-performance components and technological solutions for electric vehicles on behalf of leading car manufacturers around the world such as Porsche, Hyundai, Aston Martin, Koenigsegg, Automobili Pininfarina, and others.

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Bojan is The Recursive’s Western Balkans Editor, covering tech, innovation, and business for more than a decade. He’s currently exploring blockchain, Industry 4.0, AI, and is always open to covering diverse and exciting topics in the Western Balkans countries. His work has been featured in global media outlets such as Foreign Policy, WSJ, ZDNet, and Balkan Insight.