Mate Rimac May Move His Company Headquarters Out of Croatia

While the Croatian government tries to create a car industry by tweet, Croatia’s only self-made auto success story is heading in the other direction. 

Speaking at the opening of Cisco Connect conference, Mate Rimac, the founder of Rimac Automobili, announced that due to the second round of investment he may have to move the company headquarters outside of Croatia. The reason was a direct request by investors. As examples of similar situation, he cited startups which have already had to do the same thing, like Croatian-Slovenian startup Bellabeat and Farmeron from Osijek, reports ictbusiness.info on April 8, 2016.

Rimac has later confirmed the news. In the second round of investment he expects to receive a much larger amount and the new investors will require the company’s headquarters to be located in another country, while the production and product development departments would remain in Croatia. He added that after the first round of financing they have managed to resist such requests and keep the company headquarters here. It is obvious that in the second round of financing, which will be much larger than the first when they received 10 million euros, that will simply not be possible any longer.

If you take a closer look at his statement, it is clear that investors do not want to play around and that the moving the headquarters to one of the major countries like the United States or the Unite Kingdom would make them more secure about their investment.

At the opening of the two-day Cisco Connect conference, Rimac spoke about his business model which is actually the development and sale of technology, rather than just manufacturing cars. He said that he would continue to deal with superfast electric cars, with the goal of them becoming synonymous with sports cars of the 21st century. As one of his goals, Rimac mentioned his desire to influence the fundamental changes in the electric bikes industry. He wants to create a whole new ecosystem, so it is clear he will continue to focus on developing technology and software solutions, for his own company and for other clients as well.

Rimac said that launching a good state-owned fund for risk investments was in strategic national interest, adding that the car industry is one of the largest generators of high-quality jobs. He did not list as an example only Germany, but also Slovakia which did not have much of a quality car industry, but now it makes up as much as 20 percent of its GDP.

 

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