Mate Rimac on Building a Hypercar Empire from Croatia | Bloomberg Hot Pursuit!

The Genesis of Rimac Automobili

• 💡 Mate Rimac's passion for cars began in Yugoslavia, a place with few cars, leading him to electrify a 1984 BMW 3 Series in his garage.
• 🚀 Initially facing ridicule for his electric car, Rimac's modified BMW eventually started winning races, proving the viability of his concept.
• 🛠️ Realizing the limitations of converting existing cars, Rimac decided to build his own electric hypercar from scratch, inspired by Pagani and Koenigsegg.

Overcoming Adversity and Securing Investment

• 🧠 Rimac bootstrapped his company, facing immense challenges like lack of industry knowledge and initial investor withdrawal, forcing him to pivot to contract work to survive.
• 📈 Despite setbacks, Rimac secured significant investments from Porsche and Hyundai, eventually raising a billion euros and establishing Rimac Automobili as a major player.
• 🇭🇷 Rimac's commitment to building his company in Croatia, despite pressure to relocate, has led to the creation of a new automotive industry in the region, employing thousands.

Diversification and Future Ventures

• 🚗 Rimac Automobili has diversified into three companies: Bugatti Rimac (hypercars), Rimac Technology (supplying other automakers), and Vern (robotaxi business).
• 🔋 Rimac Technology is a major supplier of batteries, powertrains, and electronics to companies like BMW and Porsche, with 5 billion euros in orders.
• 🤖 The Vern robotaxi business aims to revolutionize personal transportation by providing autonomous mobility, focusing on user experience and societal benefits.

The Future of Automotive and Motorsport

• ⚡ While acknowledging the dominance of electric vehicles in the long run, Rimac believes in consumer choice and opposes government mandates that can lead to backlash.
• 🏎️ Rimac is open to Bugatti or Rimac participating in motorsport, but is critical of current racing regulations that penalize technological advancement.
• 🚗 Rimac believes that while electric cars will become mainstream, there will always be a niche for enthusiast-driven combustion engine cars, akin to mechanical watches.

Personal Reflections and Aspirations

• 🌟 Rimac reflects on achieving his childhood dreams, from building the fastest electric sports car to developing the new Bugatti Turbion.
• 👨‍👩‍👧‍👦 Looking ahead, Rimac expresses a desire to focus on making his companies successful and profitable, and also to start a family.
• 🍎 Rimac also expresses interest in the food industry, citing concerns about sustainability and health in current food production practices.