The $2.5 million Rimac Nevera all-electric hypercar has commenced production, making it the world’s fastest production car and a symbol of the Croatian EV maker’s breakthrough battery technology.
The sleek, low-slung 1,914-horsepower two-seater is the first vehicle to put to the test the November combination of French supercar maker Bugatti and Rimac Automobili’s hypercar division, 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.
The success of the seven-figure coupe, though, may be more important to Rimac’s other business, the young Rimac Technology unit, which offers advanced EV technology and components to mainstream manufacturers ranging from Porsche to Pininfarina. Rimac’s specialty will be battery technology focused on software optimization, enhanced driver assistance systems, and energy storage.
The company’s small-batch hypercars get attention, but the digital division allows Rimac to scale its operations in preparation for an IPO. Mate Rimac, the company’s founder and CEO, stated in June that the tech subsidiary will eventually create tens of thousands of EV components every year.
The automaker will manufacture parts for the Nevera at Rimac’s own facilities, allowing the company to gain control of its supply chain while also serving as a testbed for developing battery-electric systems. Rimac stated it spent more than two years revamping the Nevera’s engine, as well as developing the car’s next-generation battery system, inverter, gearbox, motor, control systems, and infotainment system.
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.
