Porsche Increases Stake in Rimac Automobili

Porsche Increases Investment in Rimac Automobili

Rimac Automobili, a Croatian firm specializing in electric hypercars, alongside battery and powertrain technologies, has received further investment from Porsche AG.

Porsche announced on Monday a €70 million (approximately $83.3 million) investment into Rimac. This action elevates Porsche’s ownership stake from 15% to 24% within the company.

A History of Collaboration

This marks the third instance of Porsche investing in Rimac. The initial investment occurred in 2018, and Porsche subsequently increased its equity share in September 2019.

Prior to Porsche’s second investment, Hyundai Motor Company and Kia Motors jointly invested €80 million (equivalent to $90 million at the time) into Rimac.

Rimac’s Core Competencies

Founded in 2009 by Mate Rimac, the company is widely recognized for its high-performance electric vehicles. The C Two, unveiled at the 2018 Geneva International Motor Show, exemplifies this.

The C Two boasts impressive specifications, including 1,914 horsepower, a top speed of 256 mph, and an acceleration of 0 to 60 mph in just 1.85 seconds. Rimac intends to present the final production version of the C Two in 2021.

Beyond hypercar production, Rimac, which employs 1,000 individuals, concentrates on advanced battery technology for high-voltage applications. They also engineer and manufacture electric powertrains and create human-machine interfaces.

Porsche’s Strategic Interests

According to Lutz Meschke, deputy chairman of Porsche AG’s executive board, Porsche’s primary interest lies in Rimac’s component development capabilities.

Meschke highlighted that Rimac is “excellently positioned in prototype solutions and small series” production. He further stated the company is progressing towards becoming a Tier 1 supplier for Porsche and other manufacturers in the high-tech sector.

Porsche has already issued initial orders to Rimac for the creation of highly innovative series components, as confirmed by Meschke.

Despite these ongoing investments, Porsche maintains that it does not hold a controlling interest in Rimac.

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