Rimac use oil to cool the rotor and stator. Tesla only use water cooling for stator and only oil in the differential.
Problem with water cooling is that coolant under normal pressure start to boil at around 125 degree Celsius. I think that is the reason Rimac use oil so it can cool the motors at much higher temperatures. But water it better at releasing heat than oil. So Rimac use both like normal ICE cars to.
"The motors (rotor and stator) are oil cooled with a closed-loop cooling system inside the housing. This architecture was necessary in order to get as much power as possible, while keeping the weight low. Still, no oil is circulating outside of the motor since the system features integrated heat-exchanger and pumps, which allow cooling the motor with a traditional water (glycol) cooling loop".
Powertrain
Front: Rimac Automobili D-PM-OC-500 – high speed dual permanent magnet oil cooled motors, 500 kW peak, 12.000 RPM, up to 97% efficiency.
2 single speed gearboxes
Rear: Rimac Automobili D-PM-OC-500 – high speed dual permanent magnet oil cooled motors, 600 kW peak, 12.000 RPM, up to 97% efficiency. Two double clutch two-speed gearboxes.
Rotor and stator oil cooling
Milled aluminium housings