In a bid to raise its investment into electric cars and battery technology German car giant Porsche AG is raising its stake in the Rimac Automobili, a Croatian electric vehicle components and supercar company. Porsche bought its first 10% stake in Rimac 14 months ago.
Porsche AG announced the decision to raise its stake in Rimac Automobili on Friday, with Lutz Meschke, the Deputy Chairman of Porsche’s executive board, saying that Porsche wants to intensify its collaboration in the field of battery technology. Having just introduced its all-electric Taycan sports car, Porsche plans to invest more than $6 billion into electric mobility through 2025. The automaker spent more than $1 billion developing the Taycan, which includes expanding its factory.
Founded by Mate Rimac in 2009, Rimac Automobili is best known for its electric supercars, the Concept One and Concept Two. The C Two has a top speed of 415 km/h and can go 0 to 100 km/h in a mindboggling 1.85 seconds. The C Two produces 1 914 horsepower and boast a maximum range of 647 km on the NEDC cycle. The company also develops and produces electric bikes through its sister company Greyp Bikes.
However, despite the overwhelming success of its electric supercars, the Zagreb based company focuses its efforts on battery technology, electric powertrains and developing digital interfaces between humans and machines.
“Gaining Porsche as a stakeholder was one of the most important milestones in our history. The fact that Porsche is now increasing its stake is the best confirmation for our collaboration and represents the foundation for an even closer relationship. We are only at the start of our partnership – yet we have already met our high expectations. We have many collaborative ideas that we aim to bring to life in the future. The fundamental focus is creating a win-win situation for both partners and offering our end customers added value by developing exciting, electric models,” Rimac said in a statement issued after the Porsche deal was announced.
Along with Porsche AG, Rimac Automobili has already worked with manufacturers such as Renault, Jaguar and Aston Martin. In May 2019 the Hyundai Motor Company and Kia Motors jointly invested €80 million, roughly $90 million, into Rimac. As part of that deal, the three parties agreed to collaborate on the development of high-performance electric vehicles.
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