SoftBank and Goldman invest in electric supercar group Rimac

SoftBank and Goldman invest in electric supercar group Rimac

SoftBank and Goldman Sachs have invested in Rimac in a €500mn funding round that gives the Croatian electric supercar maker and technology group a valuation of more than €2bn, according to the company.

It will use the new investments in part to build its fledgling self-driving robotaxi business, which has been under secret development for the past three years, founder Mate Rimac told the Financial Times.

The new venture is still “in stealth mode” and may not be ready for another five years, but it will eventually become “bigger than everything we have done so far”, he said.

The business has been running prototypes for two years, but wants to wait until the technology is ready before revealing it to the public.

“We are unlike other people, who show stuff that is far from being done,” Rimac added.

Several companies ranging from General Motors-backed Cruise to Alphabet’s Waymo have promoted self-driving vehicleslong before the technology reached the commercial stage.

The €500mn investment is the latest funding round for Rimac, which began in the founder’s garage in 2009 and has grown to become one of the most sought-after technology providers in the car industry.

The company made eight €1.2mn high-performance Concept One cars to promote the brand, and