Porsche increases stake in Rimac Automobili

Porsche has upped its stake in electric hypercar company Rimac Automobili from 15 to 24%.

The Croatian company develops and produces high-tech components for electromobility, including high-performance drives and battery systems along with electrically powered super sports cars.

Porsche became an investor in 2018 and increased its stake to 15% in September 2019, now investing an additional 70 million euros.

“Rimac is excellently positioned in prototype solutions and small series,” Porsche AG executive board chairman Lutz Meschke says.

“Mate Rimac and his team are important partners, especially when it comes to supporting us in the development of components.

“Rimac is well on its way to becoming a Tier 1 supplier for Porsche and other manufacturers in the high-tech segment,” says Meschke.

“Mate Rimac inspires us with his innovative ideas. By the same token, he benefits from our know-how in production and methodological expertise in development.”

Rimac has developed very well technologically, Meschke explains.

Porsche has placed its first orders with Rimac for the development of highly innovative series components.

It currently has stakes in more than 20 start-ups and eight venture capital funds.

Company founder Mate Rimac welcomes Porsche’s increased commitment.

“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.”

Mate Rimac founded the company in 2009 at the age of 21, earlier envisioning an electric-powered super sports car while still at school and university.

Based in Sveta Nedelja near Zagreb, his company now has a workforce of nearly 1000, designing developing and manufacturing electric hypercars with up to 1491kW and a top speed of more than 400km/h.

The company also supplies technologies and systems to several well-known manufacturers of electric cars.