The Rimac Group has raised 500 million euros in a new investment round led by Softbank and Goldman Sachs, which will be used to continue the company's growth, increase production capacity and provide additional employment, the Rimac Group said on Wednesday, which this year alone hire 700 new employees. According to the statement, Rimac Group raised 500 million Euros in investment round D, which exceeded the company's market value by two billion Euros.
“Key new investors are SoftBank Vision Fund 2 and Goldman Sachs Asset Management, with the participation of existing Rimac Group shareholders, including Porsche and Invest Industrial. Mate Rimac still has the largest stake in the company, according to the Rimac Group. They believe that the latest investments reflect the success of the Rimac Group in the development and delivery of systems for high-performance electric vehicles, but also in its own development of hyper cars. The raised capital will primarily be used for the further development of Rimac Technology in the field of large series production for global automakers,” the statement said.
Mate Rimac, CEO of the Rimac Group, said in a statement that they had ambitious growth plans for the next two years.
“We are honored to support significant new investors such as SoftBank Vision Fund 2 and Goldman Sachs Asset Management, who believe in our vision. We are also grateful to Porsche and Invest Industrial, which have played an important role in our success so far, and have now strengthened their support with new investments,” Rimac emphasized.
He added that during the reorganization of the Rimac Group, new production processes are being established at the same time in order for the Group to meet global demand.
“We are hiring 700 new employees in 2022 alone, opening new offices in several locations in Europe and expanding production on Campus and other locations, the support of our professional investors will help us bring the company to the next stage of life. I would also like to personally thank all our employees because without their hard work, loyalty and enthusiasm for the vision of the Rimac Group, we would not be here where we are today,” said Mate Rimac.
Jimi Macdonald from SoftBank Investment Advisers emphasized that we are witnessing a rapid growth in demand for electrification in an industry that is facing significant challenges in adapting to technological change.
“Rimac has quickly established itself as a leading EV technology partner to the global automotive industry in the transition to an electric future. We are happy to be able to support Mate and his team in further success and raising Rimac to a new level,” said Macdonald.
On the other hand, Goldman Sachs Asset Management's Private Equity Director for Europe, the Middle East and Africa, Michael Bruun, looks forward to partnering with Mate Rimac and his managers to develop innovation and make further progress in pushing the boundaries of battery and electric drive performance. Lutz Meschke, the Deputy Chairman of the Management Board of Porsche AG and Member of the Management Board for Finance and IT, recalled that already in 2018 they were convinced that Rimac had great potential.
“We are happy to have been able to contribute to the progress and success of the Rimac Group. With the new investors, Rimac will further strengthen its position in electromobility and thus become an even stronger partner for Porsche. This close cooperation creates added value on both sides in terms of technological and innovation strength, Meschke said, while Invest Industrial Industry Advisory Board Chairman Andrea C. Bonomi was also pleased that the company could continue to support the company in achieving its industrial expansion plan, which, he noted is, will turn Rimac into a leader in the transition to solutions in electromobility.
Bonomi also welcomed the new shareholders who will further strengthen the group.
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