Porsche invests in Rimac and its Greyp Bikes’ subsidiary

“In less than a decade we have built up a comprehensive know-how in developing high-performance electric powertrain and battery technology, innovative infotainment and telemetry systems and many other core vehicle systems. Our hypercars are at the pinnacle of technology, redefining the idea of the supercar.” says Mate Rimac, Founder and CEO of Rimac Automobili, in a press release. “Still, building a serious automotive supplier and niche sportscar manufacturer is a lifetime challenge and we still have a long way to go. Entering the collaborative partnership with Porsche AG is an important step in our strategy to become a leading EV technology supplier to the global OEMs,” he continues. Rimac is a Croatian technology company providing EV solutions to global automotive manufacturers and developing and manufacturing high-performance electric vehicles. Mate Rimac’s vision began as a garage project in 2009 and has now grown into a 400-people company on the outskirts of Zagreb. Its subsidiary Greyp Bikes has the ambitious aim of delivering the most advanced electric bicycle on the market. Both companies are growing to meet the challenges of market dynamics. “By developing the purely electric two-seaters super sports cars, like the ‘Concept_One’ and ‘C Two’, as well as core vehicle systems, Rimac has impressively demonstrated its credentials in the field of electromobility,” Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche, says in the release. He adds: “We feel that Rimac’s ideas and approaches are extremely promising, which is why we hope to enter into close collaboration with the company in the form of a development partnership.” The new funding round should boost the business and support the global expansion of Rimac and Greyp. As a co-investor in Rimac's series B round led by Camel Group Co. Ltd., Porsche AG concludes the company’s second capital raising round. As of June 2018, founder and CEO Mate Rimac remains the majority shareholder.