© Rimac Automobili Electronics Production | March 09, 2021
Porsche invests additional €70 million in Rimac
Porsche has increased its investment in Rimac Automobili, expanding its stake in the business to 24% with an additional EUR 70 million. Porsche bought a 10% stake of the business in 2018, before increasing it to 15.5% in 2019.
Since Porsche’s first investment back in 2018, the team at Rimac Automobil has doubled to nearly 1'000 people, and the Croatian technology company has continued to produce advanced electrified powertrains, batteries, infotainment and other components related to electrification. Rimac Automobili now works with many major car manufacturers, including Hyundai, Kia, Porsche, Aston Martin, Automobili Pininfarina, Koenigsegg and many more. “With many OEMs across the world being Rimac customers, it is important, both for Rimac and Porsche, that we remain an entirely independent business.” Mate Rimac,Founder and CEO of Rimac Automobili says in a press release.“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.” “Rimac is excellently positioned in prototype solutions and small series,” says Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG. “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. The press release continues to state that Porsche has already placed its first orders with Rimac for the development of highly innovative series components. “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,” Lutz Meschke concludes.