BMW-Rimac Battery Supply Deal Is a Full-Circle Moment for Mate Rimac

Mate Rimac got his start electrifying BMWs with new battery power. Now, 14 years later, he's doing it again. But on a much bigger scale.

Rimac Campus in Croatia

Anthony Alaniz

By: Anthony Alaniz

Apr 9, 2024 at 11:35am ET

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BMW Group announced today that it’s partnering with Rimac Technology to develop and produce high-voltage battery technologies. Specific details are scarce, but they’ll power future BMW Group models arriving in the second half of this decade.

The tie-up is a significant moment for Rimac Technology, part of Rimac Group. The company is transitioning into becoming a “high-volume Tier 1 supplier” for battery-electric vehicles, according to BMW.

Mate Rimac said on Facebook this deal has “special significance—because of the complexity and advancement of the product, the size of the agreed deal, and the trust BMW gives us, but also for me personally.”

The Croatian EV mogul got his start in 2008 when he began his very first project: Converting a 1984 E30-generation BMW 3-Series to fully electric drive. It was that project that got Rimac off the ground, eventually resulting in him becoming one of the biggest innovators in the electric car sector. In addition to being the big boss at his own company, he also runs Bugatti. Not a bad career path.

Rimac has already dedicated a large portion of its Croatia campus to BMW battery production. It’s running short of space, so the company is already planning a new factory. According to the company’s boss, it might be the largest contract in the country’s history.

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Rimac has been around for 15 years, introducing its first concept, the Concept One, at the 2011 Frankfurt Motor Show. That eventually resulted in a production vehicle called the Nevera that arrived in 2022 from Rimac Automobili, a year after the EV company joined forces with Bugatti to form Bugatti-Rimac. The company is currently developing a hybrid V-16 for the Chiron successor.

BMW highlighted in its announcement Rimac’s expertise in producing battery packs, e-axles, and software. We don’t know the scope of the partnership, but we won’t have to wait too long to see the results. The two will release more information “at a later stage.”