News
Rimac founder credits Elon Musk: ‘People don’t appreciate what he is doing for humanity’
Mate Rimac, the 31-year-old founder of hypercar maker Rimac Automobili and CEO of electric bike company Greyp, has created great waves in the all-electric vehicle segment. His vehicles are brutally fast just as they are exclusive, with Rimac’s first car, the Concept One, costing $2.1 million and having a very limited production run of eight vehicles. The company is now working on its second vehicle, the C_Two, one of the only upcoming production vehicles in the industry that can out-accelerate the base next-gen Roadster with its 0-60 mph time of 1.85 seconds.
Being one of Europe’s rising stars in the shift towards electrification, and being involved in both EV production and battery technologies, some publications have started dubbing the 31-year-old as the “Elon Musk of Europe.” It’s not really clear when the moniker was given to Rimac, but in a recent interview with Newsweek, the hypercar maker stated that he dislikes the unofficial title.
Rimac notes that ultimately, his company and Elon Musk’s electric car venture, Tesla, could not be any more different. Rimac Automobili is focused on hypercars that are extremely exclusive, while Tesla is fighting a bigger battle by attempting to breach the mass market. Ultimately, Rimac notes that Elon Musk’s projects, particularly those of SpaceX, are things that inspire people.
“I really respect Elon. I don’t like it when people say I am the ‘Elon Musk of Europe’ of whatever. I have never met the guy but I have huge respect for him. I think people don’t appreciate what he is doing for humanity. I think sending reusable rockets into space, wanting to conquer Mars and so on, it’s what inspires generations.
“It is what inspired people 40 or 50 years ago when we went to the Moon and nothing like that has been going on for years. And he is not doing that with somebody else’s money, it’s not the government, it’s a private enterprise. So I have huge respect for Elon,” he said.
In comparison, Rimac stated that his company is much smaller and much more focused on a smaller niche. Yet, despite this difference in scale, the hypercar maker maintained that Rimac Automobili remains a notable player in the transition towards sustainable transportation.
“We are a much smaller company. Obviously, the electric cars are connecting us but what he is doing and what we are doing is on a totally different scale and different impact. We are of course trying to do our part in the transition to a different kind of mobility, to a different kind of energy usage, from fossil fuels to electric and helping other car companies to go electric,” he said.
That being said, Rimac did state that he experienced some of the challenges that Elon Musk faced during the early days of Tesla. Among these, of course, was the argument that making electric vehicles was not a viable business. But at this point, the 31-year-old hypercar maker stated that electrification is simply a given. Gas-powered cars will likely still be around in the future, but they would likely be similar to horses, catering to a very small clientele.
“At the beginning, I think everybody thought I was crazy. Like making an electric supercar, why would you do that, nobody wants that, and so on. We are well beyond the point where people are like ‘this is not going to happen.’ I think everyone knows it’s going to happen. I think people don’t realize this is just one step and the bigger change, [which is] that drivers will become obsolete and ownership of cars will become obsolete.
-
“The question there is what happens to the sports car companies. I think sports car companies will still be relevant for the next few years, maybe a decade or two. Beyond that, there will for sure always be clientele who want the racehorses on closed courses and so on. If that is enough to keep all the sports car companies alive in the future… we shall see,” he said.
Elon Musk has updated his timeline for when humans will walk on Mars and for when ships will simply get there.
The objective of getting to Mars has been one of Musk’s biggest goals since becoming a serial entrepreneur and realizing that time on Earth is limited. Musk has said several times he hopes to die on Mars, and not by impact.
Musk now believes that people will be on Mars in “roughly 5 to 7 years.” He said that a Mars lander will get there “a few years sooner.”
People on Mars in roughly 5 to 7 years.
Mars lander a few years sooner.
— Elon Musk (@elonmusk) July 29, 2026
The response from Musk comes after NASA Administrator Jared Isaacman said that SpaceX’s biggest priority is the Moon and not Mars. Because of this, Isaacman conceded that he believes nuclear power and propulsion investments will provide “potentially the pathway with the fewest miracles required to put four people on Mars in the next 10 to 15 years.”
Of course, this is what NASA can do through taxpayer funding and nuclear investments, he added.
Musk’s grand ambitions are much more optimistic than most, and it is certainly a double-edged sword. This is not the first time timelines for Mars have been somewhat lofty, especially to those normal thinkers like you and me, not super geniuses like Musk.
In fact, the SpaceX and Tesla frontman has said on at least a dozen occasions that we could be on Mars in the coming years. Musk said 2020 would be the big year as early as 2009. In 2020, he was “highly confident” of a landing in 2026, and had even said 2024 in a best-case scenario.
The point is, the range has varied, and it’s anyone’s guess when we’ll get there. This latest adjustment to the timeline is typical of Musk, and while the Moon has seemingly taken priority over Mars, it is still worth mentioning that the ultimate goal is to make life multiplanetary, and it starts potentially with the Red Planet.
SpaceX (NASDAQ: SPCX) got an absolutely crazy price target rating from Raymond James after the company experienced a tough first few weeks following its Initial Public Offering (IPO).
Despite the tumultuous start, SpaceX has plenty of believers, and the company’s massively successful Starship launch last Friday, its 13th test flight of the massive rocket, went so smoothly that Raymond James analysts pushed its price target on the company to roughly 7 times its current trading level.
SpaceX Starship just nailed something it’s never done before
The firm officially put a “Strong Buy” rating and an $800 price target on the stock. It currently trades at around $113. Its all-time high is $225.64, reaching this trading level shortly after shares first went public.
Raymond James’ price target is tied to the firm’s confidence after Starship’s 13th test flight. Analysts at the firm said it was an incremental step that reduces engineering risks, citing the widely successful heat shield test that CEO Elon Musk recently detailed, the smooth deployment of Starlink V3 satellites, and a successful in-space engine relight.
SpaceX also managed to see Starship splash down safely in the Indian Ocean, while the Super Heavy Booster fell down to the Gulf of America with no incidents.
It is interesting to see these launches have such a tremendous impact on the stock and what investors think of it. After SpaceX initially delayed the Starship launch last week, shares fell tremendously. Most probably did not realize that the stand-down is a standard practice, especially if everything is not perfect.
The mission was initially aborted due to an issue with Raptor engines. This was resolved, and Starship launched last Friday after another delay on Thursday, which was caused by weather.
Now that analysts have seen what SpaceX launches are capable of and how impressive the feat is, firms are adjusting their price targets accordingly, making it known that they have high expectations for the space exploration company.
Tesla CEO Elon Musk has responded to reports that Volvo is officially discontinuing the LiDAR sensor on two of its cars.
Volvo announced that it would officially scrap LiDAR systems on its EX90 and ES90 vehicles in various markets. In Norway, owners will get a €1,800 compensation for features that will never arrive due to this decision. There will be no option to remove the unit from vehicles, either.
The issue stems from Volvo’s supplier, Luminar, and its bankruptcy filing. Luminar will no longer be able to supply LiDAR units to Volvo for the EX90 and ES90, effectively axing any use the unit has on vehicles. Volvo will phase out the data collection processes via the LiDAR system, and it will not be utilized whatsoever.
Musk saw the story on X and responded, stating:
“I did try to warn them. Humans drive using neural nets and optical sensors. Same is true for robot cars.”
I did try to warn them.
Humans drive using neural nets and optical sensors. Same is true for robot cars.
— Elon Musk (@elonmusk) July 29, 2026
Musk has been publicly vocal about his disdain for LiDAR systems, once calling them “a fool’s errand,” as he has consistently kept the outlook that they are not needed for effective self-driving.
The typical example used as evidence for this by Musk is humans themselves: made with only eyes and memories, humans are capable of navigating a car by using what they can see and what they’ve personally experienced on the road.
Elon Musk argues lidar and radar make self driving cars more dangerous
“Same is true for robot cars,” Musk says, as Teslas have eight exterior cameras that help see everything surrounding the vehicle, and a neural network that analyzes behavior and tendencies with every mile driven.
Tesla is a vision-only self-driving company that ditched sensors and radar several years ago in favor of cameras. Behind this effort, the company has established a reputation for having one of the most robust self-driving platforms in the world.
Musk’s big bet with Tesla on its self-driving program’s strategy has widely paid off. Other companies continue to utilize things like LiDAR, radar, and sensors for effective self-driving, but Tesla has shown that there is more than one way to give consumers a strong and accurate driver assistance suite.
The real question is: who will be the first company to take Musk’s advice and attempt a self-driving platform based on cameras only, or even license FSD for themselves?
Elon Musk updates the SpaceX timeline for Mars
SpaceX gets an absolutely crazy price target after rough IPO
