Rimac Refuses To Build An SUV Despite The Hype

Aug. 27, 2022 4:04 PM ET by Gerhard Horn Supercars / 8 Comments

It will stick to building ultra-exclusive, ridiculously fast EVs.

Rimac will never build an SUV. As in never, ever, according to Mate Rimac.

Even though building an SUV is a surefire way of fleshing out the bank account, the EV hypercar maker is not even remotely interested. The Drive spoke to Rimac's chief program engineer, Matija Renic, who revealed that Rimac's CEO, Mate Rimac, is committed to not building an SUV.

It means Rimac is following a drastically alternative business model than every other supercar and hypercar manufacturer out there and sticking to high-performance super sports cars like the Rimac Nevera. Lamborghini, Maserati, Lotus, and Aston Martin have all caved. McLaren will most likely be next, as it desperately needs a taller car to boost profits.

You'll note that we left Ferrari out of the mix because the Purosangue is not being built to bolster profits, or so Ferrari says. It will never exceed 20% of Ferrari's annual volume and is rather a supplementary model for owners who don't want to use their 296 GTB on a daily basis. Ferrari and Bugatti are prime examples of how niche manufacturers can be extremely successful without building an SUV.

"We want to stay on the high-performance side. High performance, exclusive, low volumes," said Renic.

It's a perfectly viable business model, as proven by several other niche companies, including Koenigsegg, Pagani, and Morgan. Rimac currently only sells one product to customers, but the Nevera is likely all it needs. The $2.4 million hypercar is in a completely different league and the fastest accelerating production car you can buy.

Rimac doesn't need another hypercar because, in essence, the Nevera is a showcase. While the profit margins on a Nevera are likely massive, it won't be responsible for raking in cash for the company.

The company founded by Mate Rimac is not like most automotive manufacturers who do only one thing. Rimac will continue to build EV hypercars as a standalone brand while it will aid in developing a series of hybrid hypercars under the Bugatti-Rimac banner.

But the big money-maker will be Rimac Technologies, which is a separate entity created by the Rimac Group earlier this year.

Rimac Technologies will focus on engineering, development, production, and the supply of batteries for BEVs and PHEVs. Rimac is already closely connected to Hyundai, Kia, Pininfarina, and Aston Martin. The British brand's Valkyrie hypercar already uses a battery provided by Rimac. Porsche already owns a stake in Rimac and is a partner in the Bugatti-Rimac venture.

While Rimac will never build an SUV, the cylindrical battery technology it's currently working on will likely feature in several upcoming SUVs. The main aim is to decrease the cost of next-generation batteries, which it can then outsource to various other manufacturers. That's how you make the big bucks, and it is likely the main reason why Mate Rimac just isn't interested.

Why sully the reputation Rimac has built with an SUV when there's more money to be made elsewhere?

"We want to stay on the high-performance side. High performance, exclusive, low volumes," said Matija Renic.