RIMAC (EGFF)

Promoter – Financial Intermediary

RIMAC AUTOMOBILI DOO

Location

• Croatia

Description

The project concerns the company's development of high performance electric vehicles and related components. Investments will be incurred in Croatia in the period 2018-2020 and they include the relevant RDI activities, capital expenditures associated to the development and production activities and the permanent increase of indirect costs to support the growth of the company.

Objectives

The project will help the Company in the further development of its electric vehicle technologies, and in its transformation from an engineering Company to an industrial scale player in the automotive sector. The investment will support the scale up of the Company's R&D and production capacity, and will contribute to increasing employment. Through these, the Company should be strengthening its competitive position and capability to address a more competitive and challenging environment in the coming years, when the electric and autonomous driving technologies are expected to be deployed across a wider range of vehicle categories by more and larger competitors.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 30 million

Total cost (Approximate amount)

EUR 74 million

Environmental aspects

The investments will concern RDI activities most likely within existing facilities. Therefore, it is unlikely that the project will fall under Annex I and II of Directive 2011/92/EC as amended. Nevertheless, the environmental details including environmental objectives of the RDI programme and if needed, the CO2 footprint as well as the possible impacts on protected flora and fauna will be assessed during the appraisal.

Procurement

The Promoter has been assessed by the EIB as being a private Company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement.

Status

Signed - 7/12/2018