Question is, will it be another electric supercar?
Rimac made a name for itself with the introduction of the Concept_One electric supercar in 2013. Powered by an 82 kilowatt-hour electric motor, the supercar produced a whopping 1,073 horsepower (800 kilowatts) when new, allowing for a 0-60 mile per hour (96 kilometers per hour) of just 2.8 seconds, on to a reportedly limited top seed of 221 mph (355 kmh).
Just eight road-going examples of the Concept_One have been built in the marque’s eight-year history – including the one that was totaled by Richard Hammond. But thanks to a new $36 (€30 million) investment, the company is looking to expand its lineup with an all-new model.
The investment came from Shanghai-based Camel Group, which is Asia’s largest battery manufacturer. The two companies reportedly entered into an subscription agreement, which will see $36 million injected not only into the Rimac Automobili company, but also the Greyp electric bicycle company. Greyp will receive $3.6 million (€3 million) in allocated funds.
"We have a lot of interest from investors, but this is the amount of capital we need," said Rimac in a statement. "We know exactly what we want to do in the next three years and we want to do it on our own terms."
According to Automotive News Europe, the $36 million investment is part of a larger $60 million (€50 million) cash-seaking venture. Like the Concept_One before it, the proposed new model would be completely electric, and will be aimed at the high-end luxury market. It’s still unclear, though, whether it will be another two-door sports car, or a more mainstream SUV or sedan.
Back in 2017, it was reported that the Concept One would have a successor, and it would be more powerful than the model before it. Already the company is working on a track-only version dubbed the Concept_S, of which just two will be built, each at a cost of $1.6 million.
Source: Automotive News Europe
Electric Vehicle technology pioneer Rimac Automobili closes a 30 million Euro investment with Camel Group - Asia’s largest battery manufacturer.
Asia’s largest battery manufacturer – China-based Camel Group Ltd., has entered into a Subscription Agreement with Rimac Automobili, Greyp Bikes and their founder and CEO Mate Rimac concluding the single largest foreign direct investment in a Croatian technology company. Out of the total investment amount, 3 mil EUR will be allocated to Rimac’s sister company – Greyp Bikes. The Investment will be used to fund the launch of new products, extension of production capacity and global expansion of the companies.
Mate Rimac, Founder and CEO of Rimac and Greyp, commented on the fundraising: “Over the years, we have established ourselves as a technology provider and enabler for many global automotive manufacturers. We have become the go-to address when it comes to electric powertrains, batteries, innovative infotainment and telemetry systems and many other core vehicle systems. At the same time, our supercars are redefining what electric vehicles are capable of and showing that the electrified future will be exciting. In contrast to many other companies in this business, we have a working business model – we are profitable since 2012 and doubling every year organically. This investment will help us further accelerate growth, introduce new products to the market and expand our global presence. Two key areas are building a new, state-of-the-art production facility for our technology business and launching our next-generation electric supercar which will be shown to the world next year.”
Liu Changlai, CEO of Camel Group said: “Our strategy is to move aggressively into the New Energy Vehicle Business – providing advanced battery systems, powertrains and other vehicle components to major commercial and passenger vehicle manufacturers in China. After studying the market deeply, searching for a technology partner, Rimac seemed as the perfect match for us – leading the Electric Vehicle technology development in many areas. During our numerous visits to Croatia and detailed Due Diligence, we were most impressed by Rimac’s deep vertical integration – developing and manufacturing all key vehicle systems in-house. It was also impressive to learn that Rimac, as a young company in a very conservative industry, has earned the trust of some of the largest and most prestigious automotive companies. We are excited to use our synergies to deliver world-class Electric Vehicle components and technologies to the market and help accelerate the transition to a fully-electric fleet.”