Porsche strengthens EV commitment with Rimac investment

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After buying a 10% Stake in Rimac Automobili in 2018 and then increasing this to 15% in 2019, Porsche has invested a further €70m (US$83m) in the company, bringing its total stake to 24%.

Since Porsche’s initial investment, Rimac has increased its staff and now around 1,000 people to produce electrified powertrains, batteries and other components. Alongside its own car production, the company also works alongside major OEMs such as Aston Martin, Koenigsegg and Pininfarina.

Mate Rimac, Rimac CEO and founder, commented, “Porsche has been a big supporter of our company since 2018, and it has always been a privilege to have one of the world’s most iconic sports car brands be a part of Rimac. We’re proud to work together on new exciting and electrified products and of the fact that Porsche’s trust in Rimac resulted in several rounds of investment, making Porsche an important shareholder of the company.

“With many OEMs across the world being Rimac customers, it is important, both for Rimac and Porsche, that we remain an entirely independent business. Our projects and our shareholders are – and will always be – entirely separate, allowing us to maintain the information firewall that our partners rely on, and enabling us to continue working with many OEMs. The partnership with Porsche helps the company develop and grow which is beneficial for all of our customers.”

Outlining Porsche’s interest in the company, Lutz Meschke, deputy chairman of the executive board and member of the executive board for finance and IT at Porsche, explained, “Rimac is excellently positioned in prototype solutions and small series. 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.”

“Porsche has already placed its first orders with Rimac for the development of highly innovative series components, both partners benefit from this closer collaboration. 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.

“Our investment in the company has turned out to be absolutely right. Rimac’s value has increased many times over since our initial investment. In addition, 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.”

Rimac is due to release its latest offering, the C Two electric hypercar, later this year.

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After spending the past six years working as a mechanic for various motorsport and high-end performance car companies, Callum recently joined UKi Media & Events as an assistant editor. In this role he will use his vast practical knowledge and passion for automotive to produce informative news pieces for multiple vehicle-related sectors.

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