Tuesday, 17 January 2023

Rimac Automobili Opens First of Several Showrooms Across Europe

January the 17th, 2023 - Rimac Automobili is continuing spreading its wings as a wildly successful company headed by the young and talented Croatian entrepreneur Mate Rimac. In opening the very first in a series of new showrooms across Europe, it's obvious that the Rimac name is still reaching for new heights.

As Poslovni Dnevnik writes, Rimac Automobili, more precisely the wider Rimac Group, is continuing its expansion plans by opening its first showroom outside the boundaries of not only the City of Zagreb, but outside of Croatia, more specifically in the very heart of Brussels.

In cooperation with D'Ieteren, a representative of Rimac Automobili for the countries of Belgium and Luxembourg, an exclusive showroom was created in the Belgian capital city that combines the most modern technology with an attractive and atmospheric design.

"The complete Rimac experience in customisation, the ordering and collection of the Nevera supercar - and other future Rimac hypercars - has been carefully incorporated into the ethos of the new showroom. As part of Rimac Automobili's collaboration with D'Ieteren, this new showroom will provide full after-sales support for Rimac hypercar owners, using diagnostic tools developed by the Rimac team along with fully digitised after-sales services," the statement said.

With the opening of the new Rimac Automobili showroom in the centre of Brussels, D'Ieteren has also become the 23rd global sales partner for Rimac Automobili, adding to the brand's expansive influence across Europe, the Americas, the Middle East and even in Asia.

Hendrik Malinowski, the general manager of Bugatti Rimac, announced at the official opening that the next twelve months will represent another important period for this remarkable company, while Mate Rimac himself pointed out: "The further growth of our partner network comes at an important moment for the entire Rimac brand, following the deliveries of the Nevera around the world."

For more, make sure to check out our dedicated business section.

Tuesday, 6 December 2022

Croatian Inventor Mate Rimac Nominated for Businessman of the Year

December the 6th, 2022 - The remarkable Croatian inventor Mate Rimac has rather unsurprisingly been nominated as businessman of the year by both Poslovni Dnevnik (Business Diary) and Vecernji list.

As Poslovni Dnevnik/VL/Tanja Ivancic writes, the expert jury nominated Croatian inventor Mate Rimac for businessman of the year this year, and even more is expected in the future from the young leader of the Rimac Group, who managed to create yet another Croatian unicorn through persistent work and dogged determination against everything thrown at him.

For now, Rimac can certainly boast of having produced an incredible hypercar – recently declared the fastest electric car in the entire world, which also holds the record for the fastest acceleration of any car. Namely, the Nevera reached an impressive speed of 412 km/h, which makes it the fastest electric production car on the face of Earth, while the record for acceleration was 8.582 seconds per quarter mile, which was set back in 2021.

The Nevera electric car is otherwise Rimac's premium product that has since entered into small-scale production. Back in June this year, the company revealed the release of the first Nevera on the roads, which was fitted with 000 plates and wasn't for sale, and then, they said, deliveries to clients from around the world began.

They also emphasised from the Rimac Group that the production of the Nevera required five years of development and testing, equal to an incomprehensible 1.6 million hours of deep research.

Along with the production of the stunning Nevera at the Jankomir plant in Zagreb, what marked this year for Croatian inventor Mate Rimac was the investment round that he closed back in March and the start of the construction of the Rimac campus in Sveta Nedelja. In June, Mate Rimac reported that the Rimac Group had successfully collected 3.78 billion kuna or 500 million euros in investment round D, which brought the market value of the Rimac Group company to over 2 billion euros in total.

The key new investors were SoftBank Vision Fund 2 and Goldman Sachs Asset Management, with participation from existing shareholders of the Rimac Group, including Porsche and Investindustrial. All of the investors now have a share in the Rimac Group, while Mate Rimac himself, the company's founder and executive director of the company, still owns the largest share of all.

"It's a total of more funds than we've ever previously raised, so it's really a huge thing for us,'' Rimac emphasised at the time, noting that they had five times more interested investors than they planned in terms of the raising of the money in this round, and as for the IPO, that is, public share offerings, they are thinking about it in a longer-term framework when the company becomes more predictable, so somewhere in the range of three to five years, according to Rimac.

This new investment is being used to continue the company's growth, increase production capacity and allow for additional employment. The capital raised will primarily be used for the further development of Rimac Technology in the field of large series production for global car manufacturers.

It should be known that Rimac Group is, namely, a holding company and consists of two companies; Bugatti Rimac, in which the Rimac Group has a majority share of 55 percent, while the other 45 percent is owned by Porsche, and Rimac Technology, which is 100 percent owned by the Rimac Group.

The company Rimac Technology is known as a technological partner of numerous global automotive manufacturers who choose it for the development and production of their high-performance battery systems, electric powertrains, electronic systems and user interface components. Mate Rimac then pointed out that the company has ambitious growth plans for the next two years, in addition to the issue of employees and the opening of new offices. They're present in four locations in Zagreb, and they also have offices in Split and Osijek, as well as elsewhere in Europe - in Germany, France and England.

The construction of the upcoming Rimac Campus in Sveta Nedelja is currently delayed, but considering the situation on the market, the deadlines set for it previously remain acceptable, and the plant should be ready in the next few months, with the administrative building and other facilities likely to be ready over the next year or so.

''It's a big investment and will be the largest industrial building in all of Croatia, spanning 100,000 square metres, and I believe that everything is progressing according to plan, and we're already planning the construction of Campus 2,'' Rimac reported back in June.

The Rimac Group employs a total of more than 1,500 people, with 500 of them working at Bugatti Rimac, 150 of them in France, while 1,000 people are employed at Rimac Technology. That's what the official figures from June of this year read. In the first half of this year, they employed 300 people, and by the end of the year they planned to employ another 700. As Mate Rimac wrote in a recent post on social media, they currently have a total of 2,000 employees.

Croatian inventor Mate Rimac otherwise started his business literally from his garage and back in 2009 he founded Rimac Automobili, continuing at this pace, doubling the number of employees, attracting strong investments, and breaking records and production despite the difficulties he faced. It's safe to say that the future should not be a problem for the talented and innovative Croatian inventor Mate Rimac.

For more, follow our business section.

Thursday, 17 November 2022

Nevera Reaches 412km/h, Becomes Fastest Serial Electric Car in World

November the 17th, 2022 - The stunning Nevera made by Mate Rimac's company has become the fastest serial electric car on the planet, reaching an incredible 412 km/h.

As Poslovni Dnevnik writes, Rimac's amazing Nevera has successfully reached a top speed of 412 km/h, making it the fastest serial electric car in the entire world. The record-breaking feat continues after Nevera's independently verified quarter-mile acceleration record of 8.582 seconds was set back in 2021, making it the fastest-accelerating production car in the world.

On this occasion, the Rimac team specifically looked for an oval-shaped track with straights long enough for the Nevera to reach its absolute top speed, and in the end they decided to verify the speed at the Automotive Testing Papenburg track in Germany. The track makes it possible to reach a speed of more than 400 km/h but this isn't a common sight because it is very rare that a car can even reach such a high speed.

The Nevera was placed in its so-called Top Speed ​​mode, creating an aerodynamic profile that balances both drag and downforce to ensure stability at high speeds. Fitted with road-legal Michelin Cup 2R tyres, and under the supervision of a Michelin technician who checked their condition, the Nevera was ready to set a real speed record.

At the wheel was Miroslav Zrncevic, the main test and development driver. His challenge was to achieve a perfect flat entry from the curved sections of the track to ensure the best possible opportunity to reach top speed. Coming out of the oval part of the track from the incline, traveling at around 250 km/h, Miroslav unleashed the full power of the Nevera to reach a speed of 412 km/h – exactly as simulated at the start of the Nevera project.

The posted speed therefore makes the Nevera the fastest production electric car on Earth, and it is the fastest speed ever recorded on Germany's Automotive Testing Papenburg circuit. The speed ​​was measured using the Racelogic V-Box, a high-precision GPS-based measuring device. A top speed of 412 km/h was the goal set by the Rimac team. It has now been reached.

Miroslav Zrncevic, chief driver for testing and development at Bugatti Rimac commented: "Travelling at a speed of 412 km/h means travelling at a third of the speed of sound. Achieving that speed in a road car is an incredibly complex process, but with the Nevera we managed to create a car that can cover long distances on a single charge, can tackle tight and twisty race tracks and can drift, as well as break acceleration records, reaching speeds of over 400 km/h. I've driven the Nevera since the beginning and to see the finished car as it is today is a really emotional moment. The most important thing I learned when driving at top speed was just how well-composed and stable the car was – which confirms that our aerodynamics and vehicle dynamics teams have done an incredible job.”

The Nevera is otherwise delivered to customers with a limited top speed of 350 km/h, but can reach a top speed of 412 km/h at special customer events with the support of the Rimac team and under tightly controlled conditions. Since the tires are under huge stress during such speeds, most precautions are aimed at keeping the tires properly fitted for it. The production of the Nevera is currently underway at Rimac's headquarters in Jankomir in Zagreb, and the first cars are already with their new owners around the world.

For more, make sure to check out our dedicated business section.

Monday, 31 October 2022

Rimac Nevera Gets Tested on Top Gear!

October 30, 2022 - Confirming its popularity in the world of hypercars, Rimac Nevera finds itself in the first episode of the current season of Top Gear!

The previously extremely popular car show started its 33rd series on BBC last night, and one of the segments of the show was presenter Chris Harris' test of the Croatian super-product, the Rimac Nevera electric car.

You can see the segment yourself, and judge how well the Nevera did while being tested by one of the strictest evaluators in the business.

Mate Rimac, the owner of the Rimac brand and company, couldn't resist boasting about his car and the segment on his Facebook profile:

If you watched the segment carefully, something might've caught your eye, a detail that Rimac himself later shared on his Facebook as well: the licence plate of the car which was parked in the Top Gear studio for filming read Zg-MAGLA-1, which translates to English as "fog". It's clearly a reference to numerous people in Croatia who continue not to believe in Rimac's success story and insist on calling him "a fog merchant" (which is a common Croatian phrase, meaning "fiction monger").

Suppose you've been following Rimac's story and rise to fame. In that case, you might remember that his cars have already had their brush with fame (or, some might say, infamy) when a former Top Gear presenter, Richard Hammond, tested Rimac's Concept One in Switzerland, with explosive results.

 

Thursday, 27 October 2022

Mate Rimac Puts Sveta Nedelja at Top of EU Investment in Climate Tech

October the 27th, 2022 - Croatian entrepreneur Mate Rimac can be praised for many things, from attracting the automotive industry's attention to a small nation without any car production to speak of, to placing Croatia firmly on a map that doesn't involve tourism. The list is a long one, and attracting huge EU investment in climate tech to Sveta Nedelja is another string to his impressive belt.

As Poslovni Dnevnik/Mladen Miletic writes, a new report by PwC, in partnership with Wolves Summit, on the status of climate technology investment in 27 countries across the Central and Eastern European region found that investment in climate technology grew from 10.6 million US dollars back in 2013 to an extremely impressive 398 million dollars in the pandemic-dominated tear of 2020. It continued on that same upward trajectory, reaching more than 502 million US dollars in the first half of 2021 alone.

Although more than 1.76 billion dollars has been invested in climate technologies in the aforementioned region (which includes Croatia) between 2013 and the first half of 2021, the report also states that there are further opportunities for growth and diversification in this country's immediate region. It is also stated that investments in climate technologies in Central and Eastern Europe are more concentrated in the mobility and transport sector (59.8 percent) and in startups based in Estonia and Lithuania (74.8 percent), and it is also interesting to note that the three most active centres of investment in climate technologies are Tallinn, Vilnius, and Croatia's very own Sveta Nedelja!

Although it isn't explicitly stated in this report, the development of Mate Rimac's Rimac Technology, in which Porsche has been rather heavily investing since 2018, as well as the start of the construction of the Rimac Campus spanning more than 70 thousand square metres of production space in Sveta Nedelja, are responsible for this town near Samobor's enviable position. It also confirms a clear tendency towards complete integration into the environment and climate neutrality.

The example of Mate Rimac's remarkable company was pointed out by the vice-president of the EIB, the EU's climate bank, Teresa Czerwinska, during her visit to the City of Zagreb, during which she pointed out that the Republic of Croatia needs more such companies who are focused on contributing to the green transition.

For more, make sure to keep up with our dedicated business section.

Tuesday, 4 October 2022

Famous American TV Host Jay Leno Thrilled With Rimac's Nevera

October the 4th, 2022 - American TV host, writer and comedian Jay Leno is clearly pleased with the amazing Nevera created by Croatian entrepreneur Mate Rimac.

As Poslovni Dnevnik writes, famous American presenter Jay Leno well and truly threw himself into the waters of all things automotive just a few years ago. He has since grown a very successful YouTube channel called "Jay Leno's Garage" which is dedicated entirely to his passion and he recently tested out Mate Rimac's stunning Nevera.

Leno loved Rimac's remarkable car, the Nevera, and he was particularly impressed by the speed it can reach without much effort and the sheer ease of driving one feels when behind the Nevera's wheel. Leno said that Americans, especially many of those who have never even heard of the Republic of Croatia, will now hear about it and the incredibly intelligent people who built the strongest car in the entire world, as RTL Direkt reported.

"The Nevera's acceleration is impressive. It's linear,'' said Leno in the video in which he tested the Nevera, comparing it to the lack of ease of other electric vehicles and adding that he thinks that this, the latest of Rimac's astonishing supercars, is set to achieve great success on the demanding American market.

Livno-born Croatian entrepreneur and businessman Mate Rimac has often been compared to famous inventors and is frequently referred to as Europe's own Elon Musk. This doggedly determined creator started out with his love of cars from his garage, with not much knowledge or cash behind him.

He has since put Croatia, a country which had absolutely nothing to do with the automotive world whatsoever, very firmly on the map for all lovers of cars and connected it forever with Bugatti, showing that even the most unimaginable ventures can work out, even in a country which is still only just learning how to give entrepreneurs a fighting chance to succeed.

For more, make sure to check out our dedicated Made in Croatia section.

 

Wednesday, 14 September 2022

Rimac Campus Progressing Excellently, Interactive 3D Model Created

September the 14th, 2022 - Croatian entrepreneur Mate Rimac is by far Croatia's most successful entrepreneurial story of the modern day. Referred to as Europe's Elon Musk, Rimac has done what nobody else has - created some of the world's most incredible hypercars in a country that doesn't even have an automotive industry to speak of. His impressive plan, the Rimac Campus, is also progressing very well.

The upcoming Rimac Campus, which will not only shine the spotlight on Croatia even more strongly in regard to entrepreneurship, investment and of course - the automotive industry, will also provide enviable employment opportunities to many who would likely have headed off abroad in search of the jobs they were educated for.

As Poslovni Dnevnik writes, the absolutely stunning Rimac Nevera hypercar, as well as key components for future Rimac and Bugatti models, will be produced at the Rimac Campus in Kerestinac, which is currently under construction. The much anticipated Rumac Campus spans a constructed area of 100,000 square metres, and a total area of 200,000 square metres. It is worth an enormous 200 million euros in total.

Mate Rimac is no stranger to social media and frequently publishes posts, videos and photos about what he is currently working on, engaging well with an always interested audience. He recently took to his personal Facebook profile on which he published an impressive interactive 3D model of the current state of the construction site of the future Rimac Campus, which clearly shows that the works are progressing quite well indeed.

The completion of the first phase of construction of the Rimac Campus is planned for 2023, and in the long term it should become a workplace for around 2,500 employees.

The Livno-born entrepreneur has taken the world of cars by storm from a country that hasn't provided the best footing for going it alone, and his dogged determination is something Nikola Tesla, his fellow countryman, would be very proud of.

For more, make sure to check out our dedicated business and Made in Croatia sections.

Tuesday, 30 August 2022

Global Sales Director Kreso Coric Leaving Rimac's Company

August the 30th, 2022 - Kreso Coric, the sales director for Mate Rimac's company Rimac Automobili and the man responsible for naming the stunning Nevera, has stepped down from his position.

As Poslovni Dnevnik writes, Kreso Coric came up with the name for Rimac's remarkable electric hypercar after developing a set of colours for the exterior and interior. Everything, according to Coric, started with ''Nevera Blue''.

Kreso Coric has held one of the most important positions within Rimac Automobili since the beginning of 2016, where he arrived after working as a business development manager at a company called Double A. Prior to that, he was regional marketing manager at Louis Vuitton Moet Hennessy. Since July 2021, he has been the chief commercial director of the Milanese company Zagato, and since November of the same year he has been the chief executive officer of the Croatian company Quantum Solace Consulting, Lider reports.

''What a jouney this has been. I've been here almost seven years, but it feels like I joined just a few weeks ago. I remember when Monika Mikac invited me for the first informal conversation (which honestly was more like a chat) back in 2015 about the sales position at Rimac Automobili. Without any expectations, I was given the opportunity to manage sales and everything related to it. I had zero contacts and zero knowledge about the world of cars.

Many people in the office looked down on me with derision and continuously undermined my activities. However, I overcame all that and succeeded with the support of many good people in the company, as well as my partners - I cannot thank them enough,'' Kreso Coric explained in his announcement.

''It's sad. But sometimes moving on with life starts with saying goodbye. The time has come for me to say goodbye to the Bugatti Rimac team, to all the wonderful people there, after almost seven years as Global Head of Sales. I think goodbyes are sad, so I would like to say hello and open my arms to a new adventure, so buckle up,'' Kreso Coric concluded his post.

For more, make sure to check out our dedicated business section.

Saturday, 20 August 2022

Mate Rimac Unveils Bugatti W16 Mistral: €5M, Already Sold Out!

August 2022 - Meet the Bugatti W16 Mistral, the first Bugatti conceived and developed under Bugatti Rimac - and already sold out!

I seem to be writing a lot about Mate Rimac these days... 

From being the first person to drive across the new Peljesac Bridge, which connected Croatia, with Prime Minister Andrej Plenkovic the passenger in the elite RImac Nevera, to Formula  1 legend Nico Rosberg taking delivery of the first Nevera for over $2 million.  

Surely cars can't get more expensive than that? Well, apparently, they can...

Rimac acquired the prestigious Bugatti brand last year, and he posted on Facebook about the first fruits  of that new partnership from California  this morning:

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Ladies and gentlemen, the Bugatti W16 Mistral. The first new Bugatti conceived and developed under Bugatti Rimac. A celebration of the glorious W16 - the last of its kind before we move to the next generation of hybrid Bugattis. 99 units will be built at 5 Million Euro each. We have shown the car only to existing Bugatti owners during the last weeks and they loved the car so much that it is already completely sold out. Bugatti is therefore again sold out (there is no new Bugatti that can be ordered today) - with all production slots being spoken for until the end of 2025. Congratulations to the whole team on this amazing achievement!

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Quite extraordinary. And yet another milestone in this unbelievable journey. 

You can follow the latest from Mate Rimac in the dedicated TCN section.

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****

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Sunday, 14 August 2022

Mate Rimac Gives Video Tour of 1st Large Battery Production Facility

 August 14, 2022 - The other side of the Rimac business - supplying components for other car companies - is about to ramp up, as Mate Rimac gives a video tour of the first major battery production line.

It is more than six years since we first featured Mate Rimac on TCN, painstakingly transcribing and then translating the 46 questions posed by occasional TCN contributor, Sasa Cvetojevic, from their interview on N1 television. You can read that very interesting interview here - Mate Rimac: Concept One is Just Our Flagship Product, Technology is Our Forte.

And while most of the chat about Rimac at the moment revolves about the first sale of the Nevera to Formula 1 legend, Nico Rosberg, as well as Rimac and the Nevera being the first to drive over the new Peljesac Bridge connecting Croatia, the core business of the Rimac empire is actually developing technology and components for other car companies. And on that note, Mate Rimac posted a rather significant update and video tour on his private Facebook page yesterday:

Installation of our first 50.000 unit/year battery production line!

This is a battery that we’ve been developing for the last 3 years for a German car company. We have produced hundreds of prototypes, and now it is getting serious – the production line equipment has arrived – we actually had to fly it into Croatia with a Boeing 747 to meet the timing with all the supply chain constraints that are plaguing everybody at the moment.

This is just the start of the installation of the line with still half of the equipment missing. But I couldn’t wait to share this important milestone for us ?

I would like to thank our Manufacturing Engineering Team specifically for working their behinds off to make this happen – and of course, everybody else involved (Project Management, R&D, Purchasing, Quality… and of course, our suppliers and partners). Let’s get this done! And then, there are many more to come in Campus 1 and Campus 2...

 To follow the latest in the fast-moving Rimac story, follow the dedicated TCN section

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