Porsche strengthens ties with electric supercar startup Rimac in a new round of financing

Porsche strengthens ties with electric supercar startup Rimac in a new round of financing

Porsche is strengthening its ties with Rimac, an electric supercar company, by participating in a $500 million investment round for the Croatia-based startup. Porsche did not reveal the exact amount it invested in Rimac, except to say it was “eight figures.” And Porsche will not have a majority stake in Rimac, retaining its previously disclosed 20 percent shareholding in the company. Over the years, Porsche has grown closer to Rimac, buying shares in the company and setting up a joint venture to run Bugatti after Volkswagen transferred ownership to the startup. Today’s investment news is the latest indication that Porsche has a positive outlook on Rimac’s future. Porsche also owns a majority stake in Greyp, an electric mountain bike company also founded by Rimac CEO Mate Rimac. Over the years, Porsche has grown closer to Rimac “We are delighted that Rimac has gained new outstanding investors and are optimistic about the continued development of this exciting company,” says Lutz Meschke, Vice Chairman of the Executive Board of Porsche AG. . and member of the executive board of Finance and IT. Other investors include SoftBank’s Vision Fund 2 and Goldman Sachs Asset Management. Rimac was founded in 2009 by Mate Rimac in a garage as a one person operation. In recent years, the company has become a highly desirable brand, with many legacy automakers turning to the startup to help build their own electric supercars, including Porsche, Hyundai and Bugatti.

Image: Porsche It’s not a big question why that is. Last year, Rimac released the Nevera, a 1,914-horsepower quad that demonstrates electric absurdity, with a top speed of 258 mph and the ability to jump from 0 to 60 mph in less than two seconds. The Nevera is expected to be the fastest sports car ever made, a title previously held by the Bugatti Chiron. With the new financing, Rimac plans to hire an additional 200 employees in 2022 and invest in expanding its production capacity for “high-volume projects.” Rimac is a low-volume manufacturer, currently only producing a handful of vehicles each month. The company has set a limit for Refrigerator of 150 units. Nonetheless, Rimac has “ambitious growth plans for the coming years,” Mate Rimac said in a statement as he thanked Porsche for the vote of confidence.


Table of Contents