The Newest Contendor: Rimac
industry veterans who spent decades navigating corporate structures, Rimac established his company in Croatia—a country without a prior automotive industry—and grew it into a major global player in less than 15 years. His career path is often noted for its rapid progression from a garage-based hobbyist to the CEO of a major hypercar group.
Born in 1988 in Livno (now Bosnia and Herzegovina) and raised in Germany and Croatia, Rimac's entry into the automotive world was practical rather than corporate. His career began in a garage in 2007 when the combustion engine of his 1984 BMW E30 failed during a race. Rather than replacing it with a standard engine, he converted the car to electric power. This vehicle, later nicknamed the "Green Monster," served as a testbed for his early engineering work and eventually set several FIA acceleration records. This project laid the groundwork for Rimac Automobili, which he founded in 2009.
Operating out of Sveta Nedelja, Croatia, Rimac initially faced capital shortages common to automotive startups. To fund the development of his own vehicles, he pivoted the company’s business model to become a Tier 1 supplier. Rimac Automobili began developing and manufacturing high-performance battery systems, powertrains, and other components for established manufacturers. This revenue stream allowed the company to survive and grow, eventually supplying technology to brands such as Koenigsegg, Aston Martin, and Jaguar.
In 2011, the company unveiled the Concept_One at the Frankfurt Motor Show. Recognized as one of the first all-electric supercars, it featured a quad-motor setup with torque vectoring, producing over 1,000 horsepower. Although production was strictly limited, the Concept_One effectively demonstrated the company's proprietary technology to the industry, attracting strategic investment from Porsche and Hyundai.
A major shift in Rimac’s standing occurred in 2021 through a deal with the Volkswagen Group. Porsche and Rimac Automobili announced a joint venture named Bugatti Rimac, which effectively transferred control of the historic Bugatti brand to the new entity. Mate Rimac was appointed CEO of the joint venture. This move was strategic for both parties: it provided Bugatti with immediate access to high-performance electric technology for its future models, while solidifying Rimac’s position in the ultra-luxury segment.
Following the merger, the company launched the Rimac Nevera, the production successor to the Concept_One. The vehicle is noted for its performance metrics, including 1,914 horsepower and a 0-60 mph time of 1.74 seconds, holding multiple production car acceleration records.
Today, Mate Rimac oversees a diversified operation. Beyond the hypercar business, the separate entity Rimac Technology continues to develop and supply components to the broader automotive industry. The company is currently expanding its headquarters to a new campus in Zagreb, designed to house R&D and production facilities, marking the transition from a niche startup to a large-scale industrial manufacturer.
