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Rimac founder credits Elon Musk: ‘People don’t appreciate what he is doing for humanity’

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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. 

SpaceX CEO Elon Musk, NASA administrator Jim Bridenstine, and NASA astronauts Doug Hurley and Bob Behnken stand in from of the Crew Dragon capsule set to launch astronauts to the ISS early next year. (Teslarati – Pauline Acalin)

“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

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“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. 

Rimac’s C_Two hypercar is poised to be one of the fastest-accelerating vehicles on the road.

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.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla called ‘biggest meme stock we’ve ever seen’ by Yale associate dean

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Credit: Tesla

Tesla (NASDAQ: TSLA) is being called “the biggest meme stock we’ve ever seen” by Yale School of Management Senior Associate Dean Jeff Sonnenfeld, who made the comments in a recent interview with CNBC.

Sonnenfeld’s comments echo those of many of the company’s skeptics, who argue that its price-to-earnings ratio is far too high when compared to other companies also in the tech industry. Tesla is often compared to companies like Apple, Nvidia, and Microsoft when these types of discussions come up.

Fundamentally, yes, Tesla does trade at a P/E level that is significantly above that of any comparable company.

However, it is worth mentioning that Tesla is not traded like a typical company, either.

Here’s what Sonnenfeld said regarding Tesla:

“This is the biggest meme stock we’ve ever seen. Even at its peak, Amazon was nowhere near this level. The PE on this, well above 200, is just crazy. When you’ve got stocks like Nvidia, the price-earnings ratio is around 25 or 30, and Apple is maybe 35 or 36, Microsoft around the same. I mean, this is way out of line to be at a 220 PE. It’s crazy, and they’ve, I think, put a little too much emphasis on the magic wand of Musk.”

Many analysts have admitted in the past that they believe Tesla is an untraditional stock in the sense that many analysts trade it based on narrative and not fundamentals. Ryan Brinkman of J.P. Morgan once said:

“Tesla shares continue to strike us as having become completely divorced from the fundamentals.”

Dan Nathan, another notorious skeptic of Tesla shares, recently turned bullish on the stock because of “technicals and sentiment.” He said just last week:

“I think from a trading perspective, it looks very interesting.”

Nathan said Tesla shares show signs of strength moving forward, including holding its 200-day moving average and holding against current resistance levels.

Sonnenfeld’s synopsis of Tesla shares points out that there might be “a little too much emphasis on the magic wand of Musk.”

Elon Musk just bought $1 billion in Tesla stock, his biggest purchase ever

This could refer to different things: perhaps his recent $1 billion stock buy, which sent the stock skyrocketing, or the fact that many Tesla investors are fans and owners who do not buy and sell on numbers, but rather on news that Musk might report himself.

Tesla is trading around $423.76 at the time of publication, as of 3:25 p.m. on the East Coast.

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Tesla makes big change to Full Self-Driving doghouse that drivers will like

Now, it is changing the timeframe of which strikes will be removed, cutting it in half. The strikes will be removed every 3.5 days, as long as no strikes are received during the time period.

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tesla cabin facing camera
Tesla's Cabin-facing camera is used to monitor driver attentiveness. (Credit: Andy Slye/YouTube)

Tesla is making a big change to its Full Self-Driving doghouse that drivers will like.

The doghouse is a hypothetical term used to describe the penalty period that Tesla applies to drivers who receive too many infractions related to distracted driving.

Previously, Tesla implemented a seven-day ban on the use of Full Self-Driving for those who received five strikes in a vehicle equipped with a cabin camera and three strikes for those without a cabin camera.

It also forgave one strike per week of Full Self-Driving use, provided the driver did not receive any additional strikes during the seven-day period.

Now, it is changing the timeframe of which strikes will be removed, cutting it in half. The strikes will be removed every 3.5 days, as long as no strikes are received during the time period.

The change was found by Not a Tesla App, which noticed the adjustment in the Owner’s Manual for the 2025.32 Software Update.

The system undoubtedly helps improve safety as it helps keep drivers honest. However, there are definitely workarounds, which people are using and promoting for monetary gain, and you can find them on basically any online marketplace, including TikTok shop and Amazon:

People are marketing the product as an FSD cheat device, which the cabin-facing camera will not be able to detect, allowing you to watch something on a phone or look through the windshield at the road.

The safeguards implemented by Tesla are designed to protect drivers from distractions and also protect the company itself from liability. People are still using Full Self-Driving as if it were a fully autonomous product, and it is not.

Tesla even says that the driver must pay attention and be ready to take over in any scenario:

“Yes. Autopilot is a driver assistance system that is intended to be used only with a fully attentive driver. It does not turn a Tesla into a fully autonomous vehicle.

Before enabling Autopilot, you must agree to “keep your hands on the steering wheel at all times” and to always “maintain control and responsibility for your vehicle.” Once engaged, Autopilot will also deliver an escalating series of visual and audio warnings, reminding you to place your hands on the wheel if insufficient torque is applied or your vehicle otherwise detects you may not be attentive enough to the road ahead. If you repeatedly ignore these warnings, you will be locked out from using Autopilot during that trip.

You can override any of Autopilot’s features at any time by steering or applying the accelerator at any time.”

It is good that Tesla is rewarding those who learn from their mistakes with this shorter timeframe to lose the strikes. It won’t be needed forever, though, as eventually, the company will solve autonomy. The question is: when?

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Elon Musk teases the capabilities of the Tesla Roadster once again

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Elon Musk has once again teased the capabilities of the Tesla Roadster, fueling the anticipation that many have for the vehicle, despite it still having no public production or delivery date.

The Roadster is among the most anticipated vehicles in the automotive sector currently, and as Tesla has teased its capabilities, from a lightning-fast 1.1-second 0-60 MPH acceleration to potential hovering with cold-gas thrusters, people are eager to see it.

Although the design seemed to be finalized, there was still more work to be done. Earlier this year, as Tesla was showcasing some of the Roadster’s capabilities to Musk, he stated that it was capable of even more.

This pushed back its production date even further, much to the chagrin of those who have been waiting years for it.

Musk continues to tease us all, and as we sit here waiting hopelessly for it to be revealed, he said today that it is “something special beyond a car.”

Musk’s words were in response to a video posted by Tesla China, showing the Roadster in a new promotional video created by a fan.

The Roadster was planned to be released in 2020, but here we are in 2025, and there is still no sign of the vehicle entering production. However, Tesla did say earlier this year that it would host a demo event for the Roadster, where the company would showcase its capabilities.

Lars Moravy said earlier this year:

“Roadster is definitely in development. We did talk about it last Sunday night. We are gearing up for a super cool demo. It’s going to be mind-blowing; We showed Elon some cool demos last week of the tech we’ve been working on, and he got a little excited.”

Tesla exec gives big update on Roadster, confirming recent rumor

The delays have been attributed to “radically increased design goals” for the vehicle, which have, without a doubt, improved its capabilities, but at the same time, we just want to know if it’s ever going to come.

Tesla can always make it “better,” but at what point do you say, “Okay, it’s time to show this thing off.” They could always build another, even more capable supercar in the next ten years.

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