By Ronan Glon
Wednesday, Apr 30th, 2014 @ 6:23 am
 
Croatian start-up Rimac Automobili has announced it is close to signing an €8 million (roughly $11.1 million) deal with investors that will enable it to start production of the electric Concept_One supercar.

Rimac secured financing from a Colombian investor named Frank Kanayet Yepes. An avid sports car fan, Yepes believes that Rimac "is in the right place in the right time" and will quickly expand as the market for electric supercars grows in key regions all across the globe. In addition to investing in the company, Yepes also purchased a Concept_One for himself.

Rimac's second main investor is a Hong Kong-based mineral company called Sinocop Resources. Sinocop agreed to purchase a ten-percent stake in the start-up for €5 million (approximately $6.9 million) and a further €2 million (about $2.7 million) in stock.

"We had more interest from other investors, but we didn't want to raise more money at this stage than we really need. Money is coming not only from investors but also from customers. We have six cars in the pipeline now, more than enough to keep us busy for a while," explained 26-year old company founder Mate Rimac in an interview with website Tech.eu.

Rimac has not announced when the first Concept_One will roll out of its workshop. Precise pricing information will be published closer to the car's launch date, but sources close to the company have hinted the supercar will cost approximately $1 million.

Spec Sheet
Powered by four in-wheel electric motors, the Concept_One develops a Veyron-rivaling 1,088 horsepower and a pavement-shredding 2,800 lb-ft. of torque. Power is transferred to the ground via reduction gearboxes, and the Concept_One can reach 62 mph from a stop in just 2.8 seconds.

Interestingly, nearly every part of the Concept_One is designed in-house and built either by Rimac or by a handful of Croatian suppliers the company has joined forces with.