Rimac begins production of its $2.5 million Nevera hypercar EV – TechCrunch

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Rimac begins production of its $2.5 million Nevera hypercar EV  TechCrunch

The $2.5 million Rimac Nevera all-electric hypercar has begun rolling off the assembly line, launching on the world stage as the fastest production car and an emblem of the Croatian EV maker’s advanced battery technology.

The sleek, low-slung 1,914-horsepower two-seater is the first model to test the strength of the November merger between French supercar maker Bugatti and the hypercar division of Rimac Automobili, a fast-growing EV startup that counts as one of Croatia’s two unicorns.

So far, the Nevera posts impressive figures. The company claims that it can accelerate from zero to 60 mph in 1.85 seconds — faster than any other production car — and that its 150-unit production run is sold out.

But the success of the seven-figure coupe is perhaps even more crucial to Rimac’s other business, the fledgling Rimac Technology subsidiary that supplies advanced EV technology and components to mainstream automakers, from Porsche to Pininfarina. Rimac’s niche will be supplying battery technology specifically around software optimization, advanced driver assistance systems and energy storage.

The company’s small-batch hypercars grab attention, but the tech subsidiary allows Rimac to scale its business ahead of an eventual IPO. Founder and CEO Mate Rimac said in June that the tech subsidiary will eventually produce tens of thousands of EV components each year.

The automaker will produce parts for the Nevera at Rimac’s own facilities, which aims to help the company take control of its supply chain while providing a testbed to develop battery-electric systems. Rimac said it spent more than two years redesigning the Nevera’s powertrain and also developed a next-generation battery system, inverter, gearbox, motor, control systems and infotainment system for the car.

A $537 million Series D round has provided the company with enough money to fund its expansion plans. The deal, which valued the company at $2.2 billion, includes funding from Goldman Sachs, SoftBank Vision Fund 2 and Porsche, a longtime investor that now holds a 20% stake in the company.

Rimac will use the money to build a $200 million, 25-acre campus for Rimac’s Zagreb, Croatia, headquarters, where it will move production of the Nevera next year. The funds will also go toward doubling Rimac’s current workforce and opening new offices and facilities throughout Europe.

Source: techcrunch.com

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Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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