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Many electric vehicle startups have come and gone, raised big hopes and dreams only to fold when it came time to scale up with something and make a profit. Some EV startups put the hype on full blast and then crashed before making anything at all. There are just a few EV startups outside of China that have thrived, survived, and found a way to open positive financial pathways for themselves. Rimac is one of those companies.
Rimac has built extremely high-performance cars that broke records and looked stunning. For example, a few years ago, the Rimac Nevera actually outperformed the Tesla Model S Plaid (while costing about 18 times more). Rimac also pulled in investments from Hyundai, Kia, and Porsche, among others. In fact, in a third round of investment from history’s performance star, Porsche grew its share of the company to 24% in 2021. Now we have news of Rimac and BMW partnering in order to help BMW’s further evolution and growth in the EV arena and more generally.
Rimac is going to be providing high-voltage batteries for BMW. Previously, BMW has built some of its own batteries, so the German auto giant must have seen something impressive in Rimac’s work to go relying on it. Also consider that Porsche is part of Volkswagen Group, a major rival to BMW Group.
As for Rimac, this partnership apparently takes its efforts to a whole new level. “As part of its ongoing mission to push the boundaries of EV technology, Rimac Technology is embarking on the next stage of development by delivering greater volumes of advanced battery systems. This collaboration with BMW Group marks a significant milestone for Rimac Technology, as it represents the largest and most ambitious project the company has undertaken to-date,” Rimac wrote.
The batteries will be produced at the Rimac Campus near Zagreb, Croatia. “A significant portion of the Campus will be dedicated to this project, underlining the company’s commitment to the partnership with BMW Group.”
“My business journey began with a 1984 BMW 3 Series that I converted into an electric car in my garage at the age of 20 so it’s a perfect piece of symmetry to partner with the BMW Group today,” Mate Rimac, founder and CEO of Rimac Group, stated. “This marks a pivotal moment in the growth of Rimac Technology, from humble beginnings to a major long-term partnership with one of the greatest automotive brands in the world. It’s a clear sign of the transition of Rimac Technology from niche high-performance supplier to high-volume production capability. With the relentless growth of our business, including the opening of Rimac Campus, we’re now ready to deliver large-scale projects for the leading brands in the automotive industry.”
We don’t really have much more from the companies on how they will be working together and what toe expect from these batteries, but Rimac also writes: “The respective strengths and expertise of the two companies complement each other in a productive way. The BMW Group’s electrification strategy is aimed at building further on its leading position in the premium electric mobility sector. The BMW Group brings battery and electric drive system expertise amassed over more than 15 years to the partnership.” What’s clear is BMW expects Rimac to help it take the next step in high-performance batteries and EVs, and perhaps reclaim its reputation as the producer of “Ultimate Driving Machines.”
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