Porsche Increases Stake in Croatian Hypercar Maker Rimac

Rimac Automobili gains additional investment from Porsche.

Porsche confirms it has invested a further €70 million ($83 million) in the Croatian electric hypercar and powertrain development company, a move that increases its equity stake from 15.5% to 24%.

It is the third time Porsche has invested in Rimac. The German automaker made its first investment in 2018, bringing it an initial 10% shareholding. A second investment made in 2019 raised the stake to 15.5%.

Despite the increase in investment, Porsche says it will not exercise a controlling influence in Rimac.

Speculation links Rimac with the development of components for new, yet-to-be-announced high-powered electric-powered models from Porsche and its Volkswagen Group sister company, Bugatti.

According to Lutz Meschke, Porsche deputy chairman board member responsible for finance, Rimac is well on its way to becoming a Tier 1 supplier for Porsche and other manufacturers.

“Rimac is excellently positioned in prototype solutions and small series,” Meschke says. “Porsche has already placed its first orders for the development of highly innovative components.”

Mate Rimac (pictured below, left), the founder of Rimac Automobili, says the new investment will allow the company to operate independently and help it grow.

Mate Rimac

Mate Rimac founded Rimac in 2009 at the age of 21. Based in Sveta Nedelja near Zagreb, his company currently has nearly 1,000 employees. Rimac designs, develops and manufactures electric hypercars, including the Rimac C_Two. It also supplies electric powertrain technology and systems to several well-known manufacturers of electric cars.

Among Rimac’s key developments is a sophisticated battery-management system for cell monitoring.

Porsche is not alone in investing heavily in Rimac. Hyundai and Kia jointly invested €80 million ($90 million at the time) in the company in May 2019. China’s Camel Group also invested €30 million ($36 million) in Rimac in 2017.