Porsche pours $108 million into Rimac, increases its stake to 24 per cent

Porsche has invested another $108 million into Croatian electric supercar maker Rimac, in a bid to further strengthen ties and technology sharing between the two auto makers.

This new strategic investment has allowed Porsche to increase its ownership stake of Rimac to 24 per cent, up from 15 per cent.

4

Porsche has hit the ground running, too. According to Porsche board member Lutz Meschke, the German marque has placed first orders “for the development of highly innovative series components.”

That's the main driver behind Porsche's interest in the brand. It hopes to learn a thing or two about the advanced battery technologies that Rimac uses for its hyper-performance electric supercars.

“Our investment in Rimac has turned out to be absolutely right”, Meschke continued.

“The company has developed very well technologically. We are expanding our cooperation step by step and are also benefiting from Rimac’s strength in innovation.”

4

Mate Rimac, Rimac founder, echoed the same sentiments: “We’re proud to work together on exciting new electrified products.”

That said, Mate Rimac threw cold water on suggestions that Porsche would increase its stake to gain a controlling majority.

“With many car manufacturers across the world being Rimac customers, it is important, both for Rimac and Porsche, that we remain an entirely independent business. The partnership with Porsche helps the company develop and grow, which is beneficial for all of our customers.”

4

Persistent trade rumours last year had Rimac acquiring the Volkswagen-owned Bugatti hypercar brand in exchange for Porsche taking a larger stake in the Croatian EV-manufacturer, though that does not seem to have eventuated. Porsche instead handed over a cash payment for its enlarged share.