Porsche increases stake in Rimac Automobili to 24 per cent
Porsche is investing a further 70 million Euros in Croatian car company Rimac
Porsche has upped its stake in Rimac Automobili, from 15 to 24 per cent. The Croatian car company, set up in 2009 by 33-year-old Mate Rimac, develops and produces high-tech components for electromobility, including high-performance drives and battery systems. It also produces electrically powered hyper cars and Porsche has been an investor in the company since 2018.
The latest capital increase – an investment of an additional 70 million Euros –means that Porsche will hold 24 per cent of Rimac’s shares without exercising a controlling influence.
“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. Porsche has already placed its first orders with Rimac for the development of highly innovative series components.”
Porsche is well known for its investment in young companies with potential. The Stuttgart-based sports car manufacturer currently has stakes in more than 20 start-ups and eight venture capital funds. Meschke added that the investment in Rimac had “turned out to be absolutely right” with the value increasing many times over since the initial investment.
Mate Rimac was only 21 when he founded his company but had been thinking about electric-powered super sports cars throughout his studies. Based in Sveta Nedelja near Zagreb, his company now has a workforce of nearly 1,000. Rimac designs, develops and manufactures electric hypercars with up to 2,000 hp and a top speed of more than 400 km/h.