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Croatian Startup Rimac to Build Million-Dollar Electric Supercars

Securing investors, the company green-lights the 1,088 horsepower Concept One.

Though it has remained pretty much unknown to this day,Croatian automotive startup Rimac seems to have been hard at work since it firstdisplayed the Concept One electric supercar at the 2011 Frankfurt Motor Show.Now, the company says it has found sufficient buyers and investments to giveproduction a green light. Costing one million dollars a pop, the 88 electricsupercars expected at this stage will each produce a staggering 1,088 horsepower.

Rimac hasn't just been sitting around these past few years: thecompany also launched an electric bicycle brand, Greyp, and has now managed tosecure investments from two major backers for its supercar project. Unlike manyother startups, Rimac says that most of its technology is self-developed, andit plans to license much of it to other companies, including boat, tram and busmanufacturers. As for the Concept One, you’ll have to stay tuned for moredetails, but initial pictures look quite promising.

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