Porsche raises stake in electrical automotive and elements maker Rimac Automobili – TechCrunch

Rimac Automobili, the Croatian firm identified for its electrical hypercars and battery and powertrain growth, has gained yet one more funding from Porsche AG.

Porsche mentioned Monday it has invested 70 million euros ($83.3 miilion) into Rimac, a transfer that will increase its stake from 15% to 24%.

That is the third time Porsche has invested into Rimac. The German automaker made its first funding into Rimac in 2018. Porsche elevated its fairness stake into Rimac in September 2019. Just a few months earlier, Hyundai Motor Firm and Kia Motors collectively invested €80 million ($90 million on the time) into Rimac.

Rimac was based by Mate Rimac in 2009 and is probably greatest identified for its electrical hypercars, such because the two-seater C Two that it debuted in 2018 on the Geneva Worldwide Motor Present. The automobile produces an eye-popping 1,914 horsepower, has a prime pace of 256 miles per hour and might speed up from 0 to 60 mph in 1.85 seconds. Rimac plans to unveil C Two in its closing type in 2021.

Nonetheless, Rimac does greater than produce hypercars. The corporate, which employs 1,000 individuals, additionally focuses on battery know-how inside the high-voltage phase, engineers and manufactures electrical powertrains and develops digital interfaces between people and machines.

Porsche is most enthusiastic about Rimac’s growth of elements, in response to feedback made by Lutz Meschke, the deputy chairman of Porsche AG’s government board. Meschke famous that Rimac is “excellently positioned in prototype options and small collection” and “is effectively on its method to turning into a Tier 1 provider for Porsche and different producers within the high-tech phase.”

Porsche has already positioned its first orders with Rimac for the event of extremely revolutionary collection elements, in response to Meschke.

Regardless of its continued investments, Porsche mentioned it doesn’t have a controlling stake in Rimac.

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