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Tesla Motors (TSLA)’s Ludicrous Speed Legend Crushed by Croatian Production EV

Rimac is Tesla Speed Rival

Tesla Motors Inc could get a run for its money when Croatian firm Rimac Automobili’s new car goes into production. Rimac’s Concept_One is not the concept its name implies any more. It is set to make its worldwide debut at the Geneva Motor Show next month.

Rimac is Tesla Speed Rival

The car boasts an impressive top speed of around 220 miles per hour. It can go from 0 to 62 miles per hour in a remarkable 2.6 seconds, outrunning the Tesla Model S. A Tesla Model S P90D equipped with Ludicrous Mode can hit 60mph in 2.8 seconds.

The Concept_One’s 8,450-cell battery pack gives it 1,088 horsepower, and it has 1600 Nm of torque. Its interior is well appointed and includes a touchscreen surrounded by carbon fiber and aluminum.

The four powerful permanent magnet electric motors are baked into each wheel, and the firm built an entirely new chassis and powertrain to optimize weight distribution using its All Wheel Torque Vectoring System. Rimac’s goal was to produce as much of the car as it could in house, including the batteries.

The car has more than just tremendous speed as its claim to fame. It can also gracefully navigate calmer situations, with driving modes such as Control, Comfort, Drift, and Track. It’s every bit as good at cornering sideways as it is at picking up the kids at school.

More than 500 sensors have been placed in the car to collect telemetry data, which you can then analyze on your smartphone or computer after doing some laps on the track.

Rimac’s future plans should keep Tesla Motors Inc (TSLA) on its toes

For now, Rimac only plans to build eight production Concept_One cars, but they are getting a lot of attention and have big future plans.

Rimac founder Mate Rimac was named by Politico as one of the EU’s 28 most influential people, and the Concept_One is the official car of the FIA Formula E Championship.

Rimac told Croatia’s N1 Television that they plan to produce more cars, debut new models, and build a new factory. He also says they are working on a model that is going to be produced in bigger quantities.

It might be faster than a Tesla, but the Model S will suddenly look like a steal when you consider that the Concept_One’s starting price is 850,000 Euros, which is just shy of a cool $1m U.S. dollars.

Rimac already making a profit despite smaller budget

Rimac cites Nikola Tesla and Christian von Koenigsegg as role models, but he says his firm is taking a different approach to that of Tesla. He said that Rimac has not attracted the kind of investment that Tesla has, partly due to his refusal to move them out of Croatia, but they are managing to turn a profit.

“So [Tesla], which was at the right place at the right time, with billions in Government subventions and private investments and thousands of the very best engineers from around the globe still hasn’t reached that point and it a question whether they will be profitable. This company still hasn’t achieved any profit, not even for a single quarter.”

“As far as I know, we are the only profitable company producing electric cars, but only because we could not have survived any other way; we didn’t have money to burn.  We make the best electric car, that’s our forte.”

Meanwhile, Canadian startup Dubuc Motors is currently trying to raise $25m to build what will be the first electric supercar that has two seats in the front and two in the back. Other rivals are also on the scene hoping to grab some of Tesla’s market. With Consumer Reports slamming the Tesla Model S for reliability issues this week, the timing couldn’t be better for Rimac to unveil this speedy electric rival early next month.

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