$83m investment is Porsche’s second with the Croatian EV specialist
Porsche has raised its stake in Croatian EV innovator Rimac from 15.5 to 24 per cent with a $83m investment. With Porsche’s plans to expand its EV range beyond the Taycan very much in motion, the move will help bolster the German firm’s electric car development programme.
The founder and CEO of Rimac Automobili, Mate Rimac, said: ‘Porsche has been a big supporter of our company since 2018, and it has always been a privilege to have one of the world’s most iconic sports car brands be a part of Rimac. We’re proud to work together on new exciting and electrified products and of the fact that Porsche’s trust in Rimac resulted in several rounds of investment, making Porsche an important shareholder of the company.’
Founded in 2009, Rimac has grown exponentially in the last decade into a company supporting 1000 staff who specialise in high-performance battery and electric motor development. It’s been over a year since Porsche announced its 15.5 per cent stake in the Croatian company and now the partnership has grown again.
Now considered a top-tier industry supplier, Rimac has connections throughout the automotive world in the development of high performance components and technology for electric cars. It also still has its own C Two electric hypercar in development ahead of the first customer deliveries later this year.
‘It was one of the most important milestones in our history to win Porsche as a partner. The fact that Porsche is now increasing its stake is the best confirmation of our cooperation and the basis for an even closer relationship,’ said Mate Rimac.
‘We are just at the beginning of our partnership – and yet our high expectations have already been met. We have many ideas that we want to action together in the future. The key is to create a win-win situation for both partners and to add value to our end customers by developing exciting electrified models.’
This article originally appeared at evo.co.uk
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