Porsche increases its stake in Rimac to 15.5%

7 September 2019, 11:35:35

Porsche has announced that it has increased its stake in technology and sports car company Rimac Automobili to 15.5%. The latter focus on battery technology within the high-voltage segment, electric powertrains and developing digital interfaces between humans and machines (HMI). It produces electric bikes and has even announced an electric hypercar concept. This increase in investment from Porsche comes after a year from the first one. In May this year, Rimac also announced a partnership with Hyundai and Kia with a total investment in Rimac worth EUR 80 million. It will fund the development of prototypes for an electric version of Hyundai's N brand midship sports concept car and a high-performance fuel cell electric vehicle.

"Porsche has been supporting Rimac and its positive development for a year now," explains Lutz Meschke, Deputy Chairman of the Executive Board at Porsche AG and Member of the Executive Board responsible for Finance and IT. "We quickly realised that Porsche and Rimac can learn a lot from each other. We believe in what Mate Rimac and his company have to offer, which is why we have now increased our stake and intend to intensify our collaboration in the field of battery technology."

"Gaining Porsche as a stakeholder was one of the most important milestones in our history. The fact that Porsche is now increasing its stake is the best form of confirmation for our collaboration and represents the foundation for an even closer relationship," Managing Director Mate Rimac explains. "We are only at the start of our partnership - yet we have already met our high expectations. We have many collaborative ideas that we aim to bring to life in the future. The fundamental focus is creating a win-win situation for both partners and offering our end customers added value by developing exciting, electrified models."Source

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