Porsche bets on Rimac's electric car technology

The German brand increased its stake in the Croatian company by 24%.

Toyota Hilux

The supervisory board of Porsche gave the green light to increase its stake in the electric vehicle technology maker Rimac Automobili, so it will invest An additional € 70 million to now own 24% of the firm.

As Porsche has explained, the Croatian company that develops and produces high-tech components for electric mobility also produces zero-emission supercars. Porsche joined the company as an investor in 2018 and increased its stake to 15% in 2019.

Rimac Automobili“Rimac is excellently positioned in prototype and small series solutions. Mate Rimac and his team are important partners, especially when it comes to supporting us in component development. Rimac is on its way to becoming a top-tier supplier to Porsche and other manufacturers. ", he claimed Lutz meschke, Head of Finance and Information Technology at Porsche.

The German brand has been increasing its investment in new companies with potential for years. It currently has stakes in more than 20 start-ups and eight venture capital funds.

“Our investment in Rimac turned out to be absolutely correct. The value has multiplied since our initial investment. The company has developed very well technologically. We are expanding our cooperation step by step and also benefit from the outside of Rimac in innovation ”, Meschke added.

For his part, the founder of the company, Mate Rimac, welcomed the fact that Porsche increased its stake. "Porsche has been a great supporter of our company since 2018 and it has always been a privilege to have one of the most iconic sports car brands in the world as part of Rimac.", Stressed.

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Automundo

Automundo is the blog about news from the automotive industry, motorsport and the culture of the region. Director: Diego Durruty.

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