Porsche invests EUR 70 million in Croatia’s Rimac Automobili

Porsche has increased the share of its ownership in Croatia’s electric car producer Rimac Automobili to 24% with an investment of EUR 70 million.

Porsche bought a 10% stake in Rimac Automobili in 2018, before increasing it to 15.5% in 2019. The latest investment reinforces Rimac Automobili’s status as a leader in high-performance electrified vehicle technologies, according to the company website.

Since Porsche’s first investment, the team has doubled to nearly 1,000 people, and the Croatian technology company has continued to produce some of the world’s most advanced electrified powertrains, batteries, infotainment and other components related to electrification. Rimac Automobili now works with many major car manufacturers, including Hyundai, Kia, Aston Martin, Automobili Pininfarina and Koenigsegg.

Meschke: Rimac’s value has increased many times over since our initial investment

“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,” said Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG.

Porsche has already placed its first orders with Rimac for the development of highly innovative series components. “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,” Meschke added.

Rimac: it is important, both for Rimac and Porsche, that we remain an entirely independent business

According to Rimac Automobili’s Chief Executive Officer Mate Rimac, with many original equipment manufacturers (OEMs) across the world being company’s customers, it is important for both companies to keep the business entirely independent.

“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,” Rimac added.