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Mate Rimac

Mate Rimac (born 12 February 1988) is a Croatian , inventor, and entrepreneur best known as the founder and CEO of Group, a specializing in components, high-performance hypercars, and advanced solutions. His company, which includes the pioneering brand and a majority stake in —the entity overseeing the legendary marque—has revolutionized the by developing cutting-edge systems, electric powertrains, and record-breaking electric supercars like the . Rimac's have positioned him as a key figure in the transition to sustainable mobility, with partnerships across global automakers and a valuation exceeding €2 billion as of 2022 following significant funding rounds. Born in , , Rimac relocated with his family to at the age of three amid regional conflicts, before moving to at the age of 12 (in 2000), where he grew up in the town of near . From an early age, he displayed a passion for engineering and , influenced by his father's background in construction and the family's modest circumstances in post-war . While studying at VERN' University of Applied Sciences in , Rimac, at just 19 years old, converted a 1984 E30 into an all-electric race car dubbed the "e-M3" in his parents' garage, achieving impressive acceleration that foreshadowed his future breakthroughs in electric performance. In 2009, Rimac established Rimac Automobili in a small facility in Sveta Nedelja, Croatia, initially focusing on electric drivetrain technology rather than full vehicles. The company's debut came in 2011 with the Concept_One, the world's first electric hypercar, which showcased four electric motors delivering over 1,000 horsepower and attracted early investments from industry leaders. Subsequent models, including the C_Two (later renamed Nevera) unveiled in 2018 and entering production in 2021, have set over 30 Guinness World Records for electric vehicle performance, including the fastest production car acceleration from 0 to 60 mph in under two seconds. Beyond hypercars, Rimac has expanded into broader mobility solutions through Rimac Technology, providing EV platforms to clients such as Koenigsegg, Hyundai, and Aston Martin, and even electric bicycles via the acquired Greyp Bikes brand. Rimac's strategic vision culminated in the 2021 formation of , a 55-45 with AG, where he assumed the role of CEO alongside the French brand's heritage of luxury speed. This partnership has accelerated Bugatti's electrification efforts, with upcoming models like the blending internal combustion and . As of October 2025, Rimac is negotiating to acquire 's 45% stake in the venture, potentially granting him full control of both Rimac and Bugatti brands and solidifying his influence in premium automotive electrification. His journey from a tinkerer to a innovator—driving Croatia's tech and employing thousands—exemplifies resilient in an unlikely European hub.

Early life

Upbringing and family background

Mate Rimac was born on February 12, 1988, in , , then part of the , as the oldest of three children in an ethnically Croatian family. When the erupted in 1992, his family fled the conflict and relocated to , where they lived for several years amid the broader turmoil of the , including the . His father worked in , exposing young Rimac to machines and tools from an early age, which fostered his hands-on approach to building and tinkering. The family returned to in 2000, settling in near , where his parents established a construction business. Growing up, Rimac developed a deep fascination with and , often modifying his to make them faster and disassembling small engines out of , which led him to pursue self-taught . This interest was intensified by the rarity of in his early Bosnian surroundings, where were scarce on unpaved roads, sparking a lifelong obsession with automotive . However, upon arriving in , he faced at school due to his accent, further isolating him and reinforcing his independent, self-reliant path in pursuing technical hobbies.

Education and early inventions

Rimac attended secondary school in , , where he faced difficulties adjusting academically but demonstrated strong aptitude in technical areas like and . During his high school years, he won multiple awards in local, national, and international competitions for inventions in and , including first prize for his iGlove—a digital glove that functioned as a and replacement. His family's background in provided access to tools and garage space that enabled these early projects. In 2007, Rimac enrolled at VERN University of Applied Sciences in Zagreb to study electrical engineering but dropped out around 2010 to dedicate himself fully to entrepreneurship. That same year, at age 19, he undertook one of his early personal projects by converting his father's 1984 BMW 323i into an electric vehicle in the family garage, utilizing custom-built motors adapted from forklifts and batteries sourced online. The conversion resulted in impressive performance for the time, with 0-100 km/h acceleration in 3.3 seconds and a top speed of 280 km/h. The process involved significant challenges, including explosions, fires, and electric shocks from high-voltage experiments, as well as building many components from scratch due to limited local resources.

Professional career

Founding and early development of Rimac Automobili

Mate Rimac founded Rimac Automobili in 2009 at the age of 21 in a garage in Sveta Nedelja, Croatia, bootstrapping the venture as a one-person operation with limited personal resources. Inspired by his earlier project converting a 1984 BMW 3 Series E30 into an electric vehicle known as the e-M3, Rimac aimed to pioneer high-performance electric cars in a country without an established automotive sector. The company's initial focus was on developing proprietary electric drivetrain technology, drawing directly from the innovations tested in the e-M3 prototype. Early development was marked by significant challenges, including constrained funding, operations confined to a modest garage facility, and skepticism from investors and the industry regarding the feasibility of electric hypercars in Croatia's non-automotive economy. Despite these hurdles, progressed rapidly, culminating in the unveiling of the Concept One prototype at the 2011 Motor Show. This all-electric featured four independent electric motors—one at each wheel—producing a combined 1,088 horsepower and achieving 0-100 km/h acceleration in 2.8 seconds, showcasing groundbreaking and performance capabilities. The prototype's debut highlighted Rimac's engineering prowess and attracted initial attention to the nascent company's vision for electric mobility. By 2013, Rimac Automobili achieved a key milestone with the delivery of the first customer vehicle—a production-spec Concept One—to an anonymous buyer in , priced at €980,000. The model was planned for a limited production run of 88 units, emphasizing exclusivity and technological innovation over mass output. These early successes validated Rimac's approach, transforming the garage startup into a recognized player in development and laying the foundation for future advancements in high-performance EVs.

Formation of Rimac Group and Bugatti Rimac

Rimac Automobili began securing significant investments in 2014 with a €10 million , led by early backers including Croatian investor Frank Kanayet Yepes, who initially acquired a 3% stake before doubling his investment, valuing the company at €70 million and enabling further development of its technologies. This funding supported the company's expansion beyond its initial prototypes, which had already demonstrated foundational capabilities licensed to partners. Subsequent investments accelerated growth, including a €120 million commitment from Investindustrial in 2022 to bolster sustainable automotive innovation and scale production. Key technology partnerships further solidified Rimac's position in high-performance electrification. In 2015, Rimac collaborated with Koenigsegg to develop the hybrid powertrain for the Regera hypercar, providing advanced electric motors and battery systems that contributed to its 1,500 horsepower output and innovative direct-drive transmission, marking Rimac's entry into hybrid applications. In 2019, Hyundai Motor Company and Kia Motors invested €80 million (€64 million from Hyundai and €16 million from Kia) in a strategic partnership to co-develop mid-engine electric sports cars, leveraging Rimac's expertise in battery and powertrain integration for future Hyundai N models. Porsche entered as an investor in 2018 with a 10% stake, increasing it to 15.5% in 2019 and 24% by 2021, providing over €30 million in direct funding along with access to Volkswagen Group engineering resources to enhance Rimac's scalability. The launch of the Rimac C_Two at the 2018 Geneva Motor Show represented a pivotal advancement, featuring a quad-motor electric setup delivering 1,914 horsepower, acceleration from 0-100 km/h in 1.85 seconds, and a top speed of 412 km/h, with production limited to 150 units and initial deliveries commencing in 2022. Renamed the Nevera in , it underscored Rimac's focus on production-ready hypercars while serving as a technology demonstrator for broader applications. In , Mate Rimac established Rimac Group as the parent entity to unify its automotive, , and software divisions, including and Rimac Technology, facilitating integrated development of solutions for global OEMs. This structure supported a €500 million Series D round in 2022, valuing the group at over €2 billion and attracting investors like 2 and . A landmark expansion occurred in November 2021 with the formation of Bugatti Rimac as a joint venture between Rimac Group (55% stake) and Porsche (45%), aimed at engineering future Bugatti hypercars by blending Rimac's electric expertise with Bugatti's internal combustion heritage. Headquartered in Sveta Nedelja, Croatia, the entity unveiled the Tourbillon hybrid hypercar in June 2024, powered by an 8.3-liter naturally aspirated V16 engine paired with three electric motors for a combined 1,800 horsepower, 0-100 km/h in 2.0 seconds, and a top speed exceeding 445 km/h, with production capped at 250 units starting at approximately €3.8 million. In October 2025, Rimac announced advanced talks to acquire Porsche's 45% stake in Bugatti Rimac for over €1 billion using international investors and private equity, targeting full control by 2026 to streamline decision-making and accelerate electrification strategies.

Greyp Bikes and other ventures

In , Mate Rimac founded Greyp Bikes as an company focused on high-performance models, initially operating as a division of to explore electric mobility beyond automobiles. The inaugural product, the G12, combined and elements with a 3 kW , achieving top speeds of up to 65 km/h and incorporating that could recharge the battery at rates of up to 2 kW during descent. This model exemplified Greyp's emphasis on advanced powertrains adapted from 's technology, produced in . By 2019, Greyp Bikes was integrated into the Rimac Group structure, enabling deeper synergy with Rimac's battery and propulsion systems to enhance and efficiency, while maintaining manufacturing in . Key products like the G6 series of e-MTBs, launched around this period, featured carbon frames, 700 Wh batteries, and mid-drive motors with nominal outputs of 250-460 W (capable of higher peaks for off-road use), reaching assisted speeds of 45 km/h; these bikes served as a testing platform for Rimac's components, including integrated sensors and connectivity for real-world . In the , Greyp expanded into e-bikes, such as the T5 trekking model with app-controlled features and built-in cameras for navigation and security. Beyond bicycles, 's diversification included the division, which develops software for autonomous driving systems, encompassing advanced driver assistance features and full platforms integrated into projects like the service planned for 2026. Post-2020, Greyp pursued partnerships and sales expansions, notably with acquiring a majority stake in 2021—retaining Rimac's minority interest—and achieving full ownership by 2023, facilitating component sharing with other e-bike manufacturers through Porsche's ecosystem. These moves bolstered Greyp's global reach, including a U.S. market entry in 2020 with connected e-MTB lines.

Personal life and public image

Marriage and family

Mate Rimac married Katarina Lovrić, a Croatian and former data and test team lead in the autonomous driving division at , in July 2021 after a seven-year relationship and 17 years of acquaintance. The intimate wedding took place in with around 30 guests. The couple divorced in June 2024 after three years of , with Lovrić subsequently leaving her position at and withdrawing from public view. During their , Rimac and Lovrić shared interests in and , making joint appearances at events like the 2022 unveiling. As of 2025, there are no public details about Rimac having children, reflecting his commitment to privacy regarding family expansion. Rimac maintains his primary residence in Croatia, balancing a private family life with frequent international travel for business obligations.

Media appearances and public persona

Mate Rimac has gained prominence through various media appearances that highlight his role in the electric vehicle industry. In a 2024 ABC News profile, he discussed the challenges of producing high-performance electric supercars and his leadership at Bugatti Rimac, emphasizing the superiority of electric powertrains over traditional combustion engines. Earlier, a 2020 Goodwood Road & Racing article detailed his origins, recounting how he began building electric vehicles in his parents' garage in Croatia as a teenager, laying the foundation for Rimac Automobili. Rimac has also made cameo appearances in Croatian media, underscoring his cultural connections. He portrayed a character named in one episode of the 2021 action TV mini-series Balkanika. In 2025, he appeared as himself in the crime thriller film Balkanika: Dark Side, further embedding his public image within national storytelling. Rimac's public persona is that of a self-made entrepreneur emerging from a small country without a strong automotive heritage, often positioning himself as a pioneer in sustainable mobility. He has spoken at events like TEDxMaksimir in 2012, where he shared his journey to creating the world's fastest at age 23, inspiring audiences on and perseverance. His talks frequently address the future of electric vehicles and , as seen in keynotes at the Qt World Summit in 2019 and various industry webinars. On , Rimac maintains an active presence on platforms like and , where he shares updates on Rimac Group developments and personal insights into technology and business. His account alone boasts over 694,000 followers as of November 2025, amplifying his influence in the tech and automotive communities. Rimac advocates for electric mobility across , drawing on his experiences to promote in underrepresented regions. In a 2023 IMD , he elaborated on establishing a high-tech startup in —a nation lacking an established automotive ecosystem—highlighting the importance of and global partnerships in building unlikely successes.

Awards and recognition

Business and innovation awards

Mate Rimac has been recognized with several prestigious awards for his entrepreneurial leadership and innovations in technology, highlighting the growth of from a garage-based startup to a global leader in high-performance EVs. In 2017, Rimac won the Entrepreneur of the Year award in , selected from 36 candidates across various sectors for his vision in developing advanced electric powertrains and scaling the company internationally. As the national winner, he advanced to the World Entrepreneur of the Year finals in , competing against 60 entrepreneurs from around the and showcasing 's global impact despite not securing the top prize. That same year, at the Croatian Chamber of Economy's Croatian Business of the Year awards, Rimac received recognition for promotion of , underscoring his role in fostering and through Rimac Automobili's breakthroughs like the Concept One . In 2018, Rimac was honored as one of Technology Review's in for his pioneering work on electric s, including the C_Two prototype, which advanced sustainable mobility by integrating high-density battery systems and all-wheel . Rimac's contributions continued to earn acclaim in 2022, when he received the Issigonis Trophy—the highest honor at the Autocar Awards—for exceptional engineering innovation and business acumen in leading the transition to electrification in the automotive sector. Also in 2022, GQ Magazine named him Pioneer of the Year, praising his defiance of industry norms by building a Croatian EV powerhouse that supplies technology to major automakers. Additionally, Automotive News recognized him as a 2022 All-Star in product engineering for transforming Rimac into a key supplier of EV components worldwide.

Other honours and distinctions

In recognition of his contributions to the Croatian economy and sector, Mate Rimac received the with the likeness of in 2014, a prestigious national honor awarded by the for outstanding achievements in science, culture, and innovation. Rimac was selected for the Europe list in 2017 under the category, acknowledging his pioneering work in and energy advancements at a young age. In 2023, the IMD Business School profiled Rimac as a leading innovator in their "I by IMD" series, detailing his transformation of from a teenage garage project in into a global force in electric mobility and highlighting his role in fostering in an unlikely . Automotive media has lauded Rimac's engineering feats, with in 2024 describing the R as a groundbreaking capable of 0-186 mph in 8.66 seconds, cementing its status among the world's fastest production vehicles and praising the precision of Rimac's electric powertrain development. Broader societal recognition came in a 2022 Guardian profile, which dubbed Rimac the "rising star of electric supercars" for his vision in accelerating the transition to sustainable transportation and challenging traditional automotive paradigms.

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