Croatian Electric Carmaker Close to EU50 Million Finance Package
- Cash to help Rimac build new model, boost production, CEO says
- Rimac says new car to be unveiled at Geneva car show in March
Rimac Automobili d.o.o., which lays claim to the world’s fastest electric car, the Concept_One, is close to completing a 50 million-euro ($60 million) financing package to give it the cash it needs to expand and develop a new model for the market.
The company, which also supplies electric-vehicle technology and auto components, is considering offers for the financing after it received a 30 million-euro investment this month from Shanghai-based Camel Group Co., Chief Executive Officer Mate Rimac said. The Camel investment will give Rimac an inroad to China as well as provide capital for battery production and powertrain systems, he said. It’s completing plans to build eight Concept_One models since 2013, which the firm says can clock speeds of 355 kph and can reach 100 kph in under 3 seconds.