Porsche increases stake in Rimac electric supercar company
Porsche first invested in the Croatian company in 2018
Porsche has increased its stake in Croatian electric car company Rimac Automobili from 15 to 24 percent, the German automaker announced Monday.
Porsche purchased 10% of Rimac in 2018 and an additional 5 percent the following year. Hyundai is also a stakeholder in the company, which Automotive News valued at approximately $625 million last fall.
The Porsche Taycan Cross Turismo wagon and Rimac C_Two are all-electric performance cars. (Porsche/Rimac)
Rimac has reportedly been in recent talks to acquire the Bugatti brand from Volkswagen Group, which also owns Porsche, but no such deal has been confirmed by any of the companies involved.
Rimac currently sells a supercar called the C_Two with a 1,914 hp drivetrain, an estimated top speed of 258 mph and a price tag over $2 million that it uses as a showcase for its technology.
Porsche said it has been working with Rimac on the development of prototype components and that it will soon become a supplier of production parts.
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“We're proud to work together on exciting new electrified products. With many car manufacturers across the world being Rimac customers, it is important, both for Rimac and Porsche, that we remain an entirely independent business. The partnership with Porsche helps the company develop and grow which is beneficial for all of our customers," Rimac founder Mate Rimac said in a press release on Porsches new investment.
Porsche last week unveiled the production version of its new Taycan Cross Turismo, which is a wagon-style hatchback version of the electric Taycan sedan. The Taycan Cross Turismo starts at $92,250 and goes on sale in the U.S. this summer.