Sunday, 7 July 2019

Croatian Government Offering Rimac Incentives, Perhaps Even Land

Mate Rimac, Croatia's golden entrepreneur gave an example to the Croatian Government when it comes to attracting investment and the automotive industry - that example was Slovakia.

As Poslovni Dnevnik writes on the 6th of July, 2019, over in Slovakia, which is hardly on the other side of the world geographically, however seems to be in every other term when compared to Croatia; Kia provided incentives of as much as a billion euros, with which they built a brand new factory.

Two years ago, the young innovative Croatian entrepreneur Mate Rimac invested in developing a strategy for attracting the automotive industry to Croatia, and the project he presented to the Croatian Government was designed to be the basis for new measures for this sector, Marina Šunjerga writes for Večernji list.

As stated, the apparently endlessly talented Rimac found inspiration in the most successful country in this sector - Slovakia. The timing is now excellent considering that at this point, consideration is being taken in how to boost the development of electric car technology for the new century.

Rimac Automobili is a Croatian company that has been recognised as a real generator of knowledge and experience in producing the best electric batteries in the automotive world, with the development of the fastest electric car in the world, and there lies an opportunity for Croatia to take advantage of what Rimac has achieved against the odds and properly position itself the ''car map'' of the world.

Prime Minister Andrej Plenković briefly commented on yesterday's session of the Government on Rimac's initiative, saying that he believed his suggestions and ideas would be of particular importance to the Ministry of Economy for the further improvement of Croatia's investment and business climate, as well as other institutions through the aspect of education and the labour market, to contribute to further attracting the automotive industry to Croatia.

We have not yet heard the new measures that could attract companies such as Hyundai or Volkswagen to Croatia, and from the Ministry of the Economy, which Plenković has been pushing to develop new measures, they stated that Rimac and other automotive investors can count on all the measures within the Investment Promotion Act, which includes a reduction of the profit tax base and incentives for every new employee.

They also added that consideration is being given to the possibility that the realisation of a Rimac Campus would be facilitated by the Croatian Government, by giving the company land owned by the state.

This is a project that comes with a hefty price tag of between 80 and 100 million euros, which would include a centre for development and innovation for as many as 2000 employees.

While it all sounds straightforward enough, this is still Croatia, and the idea of realisation through land-delivery is not as feasible as it might sound at first, because they would have to go through a local unit that could eventually provide the company with a free location. This doesn't happen overnight.

With that land, Rimac would be able to count on all the standard incentives like all the other investors in this field do. According to the investment calculator, the investor would receive about 12 million kuna of direct incentives and about six million kuna of tax incentives in support for employment, which is a substantial amount for an investor as it exceeds 15 percent of the investment value.

Croatia gets a lot of bashing for its poor investment climate, but there are actually measures in place which are quite favourable, and although incentives in Croatia aren't small, the automotive industry's attraction to the country is spoiled by the poor attitude and the slow, cumbersome approach that has become synonymous with Croatia, and are looking for a much more proactive approach from politicians.

Slovakia has attracted billions of euros in investments over the past twenty years, resulting in the realisation of 34 large projects, and it's now the country with the highest number of cars per capita in the world. The project started with a smaller VW investment in Bratislava way back in 1993.

Slovakia cut profit tax from 40 all the way down to just 19 percent, and the investors completely free from having to pay tax for five years. Like Croatia, it offered quite handsome incentives in terms of employment, and he Slovakian politicians were at the disposal of investors. VW has invested 302 million euros in Slovakia so far, and has received tens of millions of euros in incentives from the Slovaks. It's a relationship which works harmoniously, and is also something that is difficult to imagine for Croatia and its draconian laws and rates.

Could everything be about to change? Has spending time with the amazing Mate Rimac opened the Croatian Government's tightly closed eyes? Only time will tell.

Make sure to follow our dedicated business page for much more.

Tuesday, 2 July 2019

Mate Rimac Publishes Hyundai's Official Plans for Croatia

Mate Rimac and his company Rimac Automobili are known for their tireless efforts, but they've been all systems go over the last few weeks in terms of trying to finally make the Croatian Government see sense when it comes to attracting foreign investment into the automotive industry, which is currently an industry entirely bypassing Croatia, favouring its neighbours with more friendly, less draconian policies instead.

Is all this about to finally alter? After Mate Rimac managed to arrange a meeting with the Prime Minister, following a long period of HDZ's main man seeming to disregard the idea, this innovative Croatian entrepreneur has been doing all he can to show PM Plenković, who was visibly impressed with what he saw at the Rimac Automobili plant in Sveta Nedjelja, as well as his government delegates, just how investment can be attracted, and how Croatia can jump on the well-paying automotive industry's train before it's too late.

As Poslovni Dnevnik writes on the 1st of July, 2019, following the meeting held between Mate Rimac and Andrej Plenković last week, Mate Rimac announced on Facebook that Hyundai, which has the utmost respect for Rimac, now officially supports the initiative to bring the car industry to the Republic of Croatia.

This is a truly incredible move for a country which succeeds in doing very little in terms of investment, other than turning it away and giving anyone who does try a far more difficult time than could ever be considered necessary. A move that could not have been made a reality if it weren't for the incredible Mate Rimac.

"Hyundai officially supports the initiative to bring the automotive industry to Croatia. I hope this opportunity will be utilised,'' said Mate Rimac on his Facebook profile today after Hyundai released a press release on its official website regarding Friday's meeting on the potential of the automotive industry in Croatia.

Make sure to follow our dedicated business page for much more.

Monday, 1 July 2019

Mate Rimac: Car Industry is Changing, This is Croatia's Chance

Just what did Prime Minister Andrej Plenković take away from finally attending a meeting with Croatian entrepreneur Mate Rimac at Rimac Automobili in Sveta Nedjelja?

As Poslovni Dnevnik/Ana Blaskovic writes on the 30th of June, 2019, after Mate Rimac reached out with apparently little response from the HDZ leader, this is now the second time in one week that entrepreneur Mate Rimac, owner of Rimac Automobili, and Prime Minister Andrej Plenković have spent time together.

The pair held a meeting at the headquarters of Mate Rimac's company in Sveta Nedjelja, along with representatives of both Hyundai and Porsche, as well as five government ministers, and discussed the potential of attracting investment and stength to the car industry in Croatia.

"The car industry is changing and this is a chance for Croatia. We want to bring the best quality industry, not one based on cheap labour. We have the support of our investors. We want to work together on it and not end up saying that we've missed out on the car industry of the future. Let's create the conditions for foreign investors to make it interesting for them to come to Croatia,'' said Mate Rimac, when presenting the Croatian Government delegation his concrete guidelines for attracting investors to the car industry, a study which has taken him two years to complete.

When it was recently announced that Croatia's GDP grew by 3.9 percent in the first quarter, this news triggered the politicians' sense of self-praise and the disbelief of numerous experts, including those who doubted the fiture, and claimed it was a mistake.

That alone is the precise picture and opportunity of the Croatian economy which is continually growing faster than its potential ever can. Slow and expensive administration, high taxes, too large a share of the state in the economy, a generally fixed set of labour prices; all of this is extremely off-putting to Croatian entrepreneurs, and makes the country very uninteresting to foreign investors (with the exception of those wanting to flash their cash in the otherwise successful field of Croatian tourism) and as such, limits any prospects for a better future in terms of foreign investment in Croatia's other economic branches. Not counting tax breaks, the Croatian Government had to rather dramatically put out fires in two large and significant companies - Agrokor and Uljanik.

That's a meeting with the likes of Mate Rimac and his company's investors from Hyundai and Kia, as well as an extensive presentation on the possibilities of attracting foreign investment to the car industry in Croatia was an excellent and likely eye-opening opportunity for the head of the Croatian Government and his delegates.

Mate Rimac has succeeded beyond anyone's wildest dreams thanks to the killer combination of sheer talent, stubbornness, and enthusiasm, but large car makers will pay much more attention to their investment decisions through comparative advantages, which implies exclusive figures, and not sentiment, emotions or feelings.

"Croatia needs interest in the car industry like the level of interest that exists for the football team, you'll get our support in technology and our experience, but that isn't going to be enough," said Porsche's Lutz Meschke, vice chairman of the executive committee.

Initiatives always come from the private sector, which best knows any real economy, but then the state gets involved. With concrete moves and reforms, Croatia could attract investment and entrepreneurship development. A sample example is the Czech Republic, where industry makes up a third of the economy, with the car industry accounting for about six percent of gross added value. The Czech Republic is now at an impressive 90 percent of the EU's development average, and Croatia is currently at 63 percent.

It's unrealistic to expect that Croatia will repeat the successes of the Czech Republic or Slovakia and employ tens of thousands of people like it once did in shipyards, but the tectonic changes in that industry are a chance we must not miss on. It opens the door to creating high value-added jobs for the highly educated, for innovators and creatives, as well as opening the door for productivity growth. And finally, that we import intelligene.

''I think we'll continue to cooperate, work synergistically, and see which concrete moves the Croatian Government will make," the prime minister promised.

Make sure to follow our dedicated business and Made in Croatia pages for much more.

Friday, 28 June 2019

Prime Minister Plenković Visits Rimac Automobili

ZAGREB, June 28, 2019 - Prime Minister Andrej Plenković and five government ministers as well as representatives of Hyundai and Porsche on Friday held talks at the Rimac Automobili company, located in Sveta Nedelja outside Zagreb, on the potential of the automobile industry and ways of attracting it to Croatia, with Rimac Automobili owner Mate Rimac presenting a study with concrete guidelines on how to attract such investments.

Earlier this week, Plenković held a meeting with Rimac, the founder of one of the leading producers of electric vehicles and high-performance technology, after which a visit to his company was announced.

Hyundai Motor Group and Kia have so far invested EUR 80 million in Rimac Automobili while Porsche has invested 18 million euro.

Upon arriving at Rimac Automobili, Plenković and other guests first toured the company's production units, after which Rimac presented a study with specific guidelines and measures as to how Croatia could attract investments in the automobile industry.

Rimac noted that Croatia could be attractive to car producers if it had comparative advantages. That way, it could become an investment destination, which unfortunately is not the case at the moment, Rimac said.

He singled out the examples of Slovakia and Estonia, which have a population of the size similar to that of Croatia and which over the last ten years have significantly increased their GDP owing to investments in the car industry, which Rimac believes is also possible in Croatia.

"The key to success in the automobile industry is a country's strategy and vision of what it wants to achieve. I believe that now is the right time for Croatia to join the so-called third wave of investments in the car industry because we missed out on that opportunity in the last ten years," said Rimac.

He said that the first investment wave in the car industry caught the Czech Republic, Poland, Hungary and Slovakia, the second caught again Slovakia as well as Romania, while the third one could include Croatia, in which all of his partners were interested as were representatives of Hyundai and Porsche.

Hyundai owns a 14% interest in Rimac Automobili and Porsche a 10% interest.

"Your achievements are great; you have made an analysis that compares Croatia against other countries and shows how Croatia could become involved more strongly. That is why we will now hold two-hour talks on what we can do together in that regard," Plenković said.

More news about Rimac Automobili can be found in the Business section.

Tuesday, 25 June 2019

Andrej Plenković to Finally Visit Rimac Automobili in Sveta Nedjelja

As Novac/Filip Pavic writes on the 24th of June, 2019, Mate Rimac, the founder of the Croatian supercar company Rimac Automobili and Prime Minister Andrej Plenković met in the afternoon a couple of days ago in Banski Dvori. During their 45-minute-long talk, which was also attended by Economy Minister Darko Horvat, Rimac agreed with the prime minister for him to finally pay a visit to his facility in Sveta Nedjelja near Zagreb.

Since Prime Minister Plenković has not yet visited Rimac's supercar factory, he has three-hour tour awaiting him on Friday, and there will also be a presentation on how to attract investment and improve the economic climate for investment in the Croatian car industry. Along with Prime Minister Plenković, Minister of Labour Marko Pavić, Minister of Economy Darko Horvat and Finance Minister Zdravko Marić confirmed their planned arrival to Sveta Nedjelja, and the arrival of Education Minister Blaženka Divjak is also possible.

This delegation of the Croatian Government will meet and list, first of all, to the experiences of investing in Croatia from Rimac's prestigious shareholders, made up of representatives of international automotive companies including Porsche, Hyundai and Kia, who have invested 100 million euros in Rimac Automobili over the past few years. Listening to their stories will hopefully be a wake up call for the group of politicians.

In addition, Rimac will share the likely damning results of an intensive two-year study, which analyses why Croatia lags so miserably behind other nearby European countries when it comes to the car industry, and why so many rounds of investment in that field over the past few years have totally, and intentionally, bypassed the Republic of Croatia.

The recent meeting between the two is the result of a multi-month agreement between Plenković and Rimac, which Jutarnji list recently covered, stating that Rimac was finding it all but impossible get an actual date for a meeting with the prime minister. A fact much of the public were unhappy with the HDZ leader for, especially given the positive publicity and investment Rimac has brought to Croatia.

''They know about my ideas. I've already mentioned them on a couple of occasions. I want to present them to the very heads of the government, but we've not been able to sort a date out yet. I gave them some dates over the next two months when I'm available and I'm waiting for their response as to when Plenković can come and see the presentation,'' said Rimac back then.

Despite the fact that Plenković hasn't visited Rimac Autmobili yet made little difference to Rimac's personal and professional drive, the innovative Croatian entrepreneur didn't hang around waiting for his arrival.

Back in May, he published nineteen measures to develop the car industry in Croatia at the Croatia E-mobility Forum. He let the Croatian Government know that we could have up to 50,000 new jobs in that industry alone, as well as the equivalent of nearly half a billion dollars more in the budget, enough for "one and a half Pelješac bridges, 23 university homes, or 53 schools'' had Croatia set its sights on that type of investment at the correct time, just as other countries in the vicinity, such as the Czech Republic, Slovakia and Hungary already have.

Make sure to follow our dedicated business page for much more.

Monday, 24 June 2019

VIDEO: Discover Rimac Today - Mate Rimac Uploads Fourth Video

June the 24th, 2019 - Mate Rimac has uploaded the fourth video in his ''Discover Rimac Today'' series on the Rimac Automobili YouTube channel.

Mate Rimac has opened up the doors of his incredible factory in Sveta Nedjelja near Zagreb for the world to see after a visit from British YouTuber Shmee150, who left the premises following a lengthy guided tour by Mate Rimac himself utterly astonished at what he saw, at the Croatian entrepreneur's knowledge of each and every process that takes place at the factory, and the fact that all of this is happening in Croatia.

By far Croatia's most inspiring success story, Mate Rimac is the definition of self-made. Having been born in Livno, Bosnia and Herzegovina, he doesn't hail from a wealthy background, and having been made to deal with the terrible red tape of the Croatian state, which is no friend to any would-be entrepreneur or their ideas, Rimac managed to succeed, and to a level that not even he could have ever expected.

Until recently, what went on at his plant in Sveta Nedjelja was a bit of a mystery. All we knew was that these incredible Croatian supercars which have delighted the world and been proclaimed the fastest electric cars on the planet, were designed and made there.

Following a visit by British car enthusiast Shmee150, who has a large following, the talented entrepreneur decided to take the public behind closed doors and allow us into his truly remarkable world. Rimac's knowledge of each and every intimate detail of the processes behind the creation of this fascinating vehicles is astounding. If you'd like to watch the previous videos in his series, all of which are in English, click here, here, and here

Watch the latest video in the popular series here:

Make sure to follow our dedicated Made in Croatia page for much more on Croatian entrepreneurs, Croatian companies, and Croatian products and services.

Saturday, 15 June 2019

Chinese Camel Group to Intensify Cooperation with Rimac Automobili

ZAGREB, June 15, 2019 - Liu Changlai, CEO of the Camel Group, a company that together with Rimac Automobili started building a factory for propulsion systems for electric vehicles, on Friday said that the group would in future intensify its cooperation with Rimac and that by the year's end the jointly built company in the city of Xiangyang will have a capacity of producing 150,000 propulsion systems a year.

Liu Changlai confirmed the news of the intensified cooperation to Hina after a meeting in the Zagreb City Assembly where a memorandum of understanding between the cities of Zagreb and Xiangyang was signed. The CEO was part of a senior delegation from that Chinese city on visit to Zagreb. The founder of Rimac Automobili, Mate Rimac, also attended the meeting.

In 2017 the Camel Group invested 30 million euro in Rimac Automobili and last year Camel and Rimac made a joint investment in Xiangyang for the construction of the local factory where propulsion systems will be manufactured for electric vehicles as well as motors and power inverters.

Liu underscored the strong support that Xiangyang city authorities provided during the construction of the factory which amounted to 10 million euro. The Camel Group invested 20 million euro and Rimac Automobili provided 5 million euro.

Camel's CEO underscored that the company is the biggest manufacturer of batteries for electric vehicles in Asia and added that in future it would intensify its investments in Rimac Automobili.

Part of the factory that has a capacity of manufacturing 25,000 propulsion systems a year, has already been completed.

More news about Rimac Automobili can be found in the Business section.

Thursday, 13 June 2019

VIDEO: Discover C_Two Hypercar Science with Mate Rimac

June the 13th, 2019 - Mate Rimac's story is inspirational to say the least, and is far, far beyond the Croatian average when it comes to creating your own company and seeing it flourish beyond your wildest dreams in a relatively short period of time. 

Rimac, an otherwise unassuming man from Livno, Bosnia and Herzegovina, is no less than a genius dressed in everyday clothing. Not only is he the founder of Croatia's highly respected Rimac Automobili, the producer of the world's beloved supercars, but he knows the ins and outs of each and every detailed and intricate process involved in their creation, from start to finish. 

Mate Rimac is, without a shred of a doubt, the protagonist of Croatia's most successful entrepreneurial story. Having attracted the attention and direct investment from some absolute giants within the car world and beyond, including the likes of Porsche.

Recently, Mate Rimac and hia facility near Zagreb, where the supercars are made, were visited by British YouTuber Shmee150, who was astonished by not only Mate Rimac's knowledge of all of the processes involved, but with the fact that all of this is taking place in no less than Croatia, a country infamous for its red tape and failed investment stories.

Following the visit from the YouTuber, who Mate Rimac guided around the factory himself, speaking in perfect English, the Croatian entrepreneur decided to embark on his own YouTube series covering life and work within Rimac Automobili in Sveta Nedjelja. So far, he has uploaded three videos in the ''Discover Rimac Today'' series. The first video can be viewed here, and the second here.

In his new video, Mate Rimac takes us behind the scenes of the science behind the hypercar. Watch it here:

Make sure to follow our dedicated Made in Croatia page for more information and stories on Croatian innovation.

Wednesday, 5 June 2019

VIDEO: Discover Rimac - Factory Tour with Mate Rimac, Episode 2

June the 5th, 2019 - Mate Rimac is by far one of Croatia's most astonishing entrepreneurial success stories. While many try and few manage to succeed thanks to the endless amounts of red tape the Croatian state likes to place in the way of any possible chance of success, this innovative Croat is one of the very few who was doggedly determined, and ended up experiencing success nobody could have ever expected, much less himself.

Recently, we wrote two articles on filming at Rimac Automobili near Zagreb, one of which involved a British YouTuber, Shmee150, visiting the home of Croatia's miraculous supercars and leaving amazed by its founder, who guided him personally around the factory speaking in perfect English.

The YouTuber was also clearly taken aback by his intimate knowledge of every detail involved in the production that takes place at Rimac Automobili's plant. The fact that all of this was happening in Croatia also came as an obvious shock to the YouTuber, who was more than grateful to the amazing Mate Rimac for his time.

It seems that this extremely talented Croatian entrepreneur born in Livno, Bosnia and Herzegovina, got a bit of a taste for filming at his plant, and created a series on what takes place there. Rimac has since uploaded episode one of ''Discover Rimac Today'' on YouTube, where he uploads videos in a series about all the goings on within his company, showing them to the world, with he himself as the guide.

Rimac's success has been barely comprehensible, especially in the face of the common negativity and range of ''impossibilities'' investors and entrepreneurs often find themselves in here in Croatia. The Croatian state's dark and murky waters are apparently no match for Rimac, and his company has experienced a truly incredible level of growth in the last few years while others stagnate in the face of Croatia's outdated, often unforgiving and draconian policies.

Instead of being bogged down in complaining about the state and drinking coffee all day, Rimac just keeps on going. He has now uploaded the second part of his series. Watch it here:

Make sure to follow our dedicated Made in Croatia and business pages for much more. Subscribe to the channel here.

Wednesday, 29 May 2019

VIDEO: Discover Rimac Automobili, Guided by Mate Rimac Himself

While there are many bleak stories about business failures and endless reams of red tape put in place by mindless state officials, there are multiple success stories when it comes to doing business in Croatia. While many are naturally put off by the amount of barriers and time things take to get moving here, there are those who persevere and go on to succeed, Croatia's beloved entrepreneur Mate Rimac is the shining star among them.

Rimac, born in Livno, in neighbouring Bosnia and Herzegovina in 1988, the family eventually moved to Frankfurt, Germany, and then to Samobor, Croatia. Rimac founded a construction company and his very first invention was the iGlove. As time went on, his business mind grew in its curiosity and he eventually founded Rimac Automobili, which brought him success we're sure he could never have previously dreamed of.

Recently, we reported on British YouTuber Shmee150 having taken a tour of Rimac Automobili which was guided by no less than the CEO and founder himself. The processes that go into the creation of Rimac's incredible supercars were revealed, and the YouTuber was left visibly astounted by Rimac's wealth of knowledge about every single part of the process.

But that isn't all. As Poslovni Dnevnik writes on the 29th of May, 2019, it seems that Croatia's most famous entrepreneur has got a taste for it, and is about to take you further behind the scenes than most journalists have ever ventured. 

"We'll show as much as possible as part of our open (business) culture. For now, our facilities, and soon, much more. Episode 1 of 4 of our factory tour,'' stated Mate Rimac on Facebook.

His company is growing extremely rapidly, and the Rimac team is almost doubled every single year. It currently employs more than 550 people, including experts from around the world.

In the first episode of this four-part branded series, Mate Rimac takes you as the viewer through the tools department and explains the complex process of modern production that is hard to believe happens right here in Croatia, the country which has complaining as its national sport (after football, of course).

He explains how he has transformed his dream into reality, transforming the potential of an electric drive into the most powerful electric hyper-car in the entire world.

Watch the video here:

Make sure to follow our dedicated business and Made in Croatia pages for much more.

Page 10 of 18

Search