Porsche raises stake in electric car group Rimac Automobili

Porsche expects to increase its coordinated effort in the field of battery innovation, said Lutz Meschke, agent director of Porsche’s official board.

In order to invest more into electric mobility, particularly in battery technology Porsche AG is increasing its stake in Croatian electric vehicle components and hypercar company Rimac Automobili.

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It was only 14 months back that Porsche took a 10% stake in Rimac. Presently, the German automaker is driving that to 15.5%, as indicated by a declaration on Friday.

Porsche expects to increase its coordinated effort in the field of battery innovation, said Lutz Meschke, agent director of Porsche’s official board. Porsche, which just presented its everything electric Taycan sports vehicle, has said it will put more than $6 billion into electric portability through 2025. The automaker spent more than $1 billion building up the Taycan, a cost that included growing its production line.

Mate Rimac, the company’s founder was quoted saying, “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 form of 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, electrified models,” he concluded.

For the unversed, Rimac has already worked with Renault, Jaguar and Aston Martin. Additionally, in May 2019, Hyundai Motor Company and Kia Motors mutually contributed €80 million, or around $90 million, into Rimac.