Rimac Automobili, which develops and produces high-performance drivetrains, battery systems, and electric vehicles, including the Concept One and C_Two which was unveiled in Geneva last week, are to open a factory in China.
Rimac and Camel Group, who invested 30 million euros in the Croatian will build the electric motor and battery factory in China by the end of the year.
Camel Group is a high-tech company which researches, develops, produces, and sells batteries in China, Europe, the United States, Africa, Southeast Asia, and internationally.
“China is important to us because it represents the biggest market in the world for electric cars, buses, trucks and other methods of transport which are recording the biggest growth,” Mate Rimc told Poslovni.hr.
The importance of electric transport is highlighted by the fact that the Chinese government plan to go completely electric.
According to data from CAAM, around 110 to 130,000 electric vehicles are produced in China monthly.
The factory will see a total investment of $158 million, with Rimac investing 5 million euros and their expertise for a 40% ownership share.
The electric motor and battery factory which Rimac and Camel will build will be able to produce 50,000 units annually at the start.
The factory will be built in Xiangyang, a city in the northwestern Hubei province. Rimac’s Croatia operations and factory will continue to operate.