Mobility

Porsche invests EUR 70 million in Croatia’s Rimac Automobili

porsche rimac automobili stake

Mate Rimac (photo: Rimac Automobili)

Published

March 10, 2021

Country

Comments

0

Share

Published:

March 10, 2021

Country:

Comments:

0

Share

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.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Rivian to establish development center in Serbia R1S All Electric SUV

Rivian to establish development center in Serbia

22 September 2022 - The United States–based company founded by Robert Joseph Scaringe manufactures electric SUVs and pickups

European Parliament votes raise targets renewables energy savings

European Parliament votes to raise renewables 2030 target to 45%

16 September 2022 - Lawmakers backed the revisions of the Renewable Energy Directive and Energy Efficiency Directive (EED) to match the REPowerEU plan

Slovenia’s DSO to install 50 e-chargers for EV

Slovenia’s DSO to install 50 e-chargers for EVs

08 September 2022 - Elektro Ljubljana is one of the five power distribution companies in Slovenia and an operator of a network of e-chargers

Citizens of France granted with EUR 4k to switch from cars to bicycles

France offers citizens EUR 4,000 grants to switch from cars to bikes

02 September 2022 - France is offering incentives of up to EUR 4,000 to citizens who want to switch their cars for electric bicycles