Porsche UPS its stake in electric hypercar specialist Rimac to 24%

Porsche continues to increase its stake in Croatian electric hypercar specialists Rimac, investing a further £60 million for a 24% share.

Last September we reported rumours that Rimac would take control of Bugatti in exchange for Porsche taking a 49 per cent stake in Rimac. But, so far, that has come to nought.

Now, the prospect of Bugatti coming under Rimac’s wing looks even less likely as Porsche part with a bit over £60 million to increase its stake in Rimac from 15.5 per cent to 24 per cent, having initially taken a stake of 10 per cent in Rimac back in 2018 before upping that to 15.5 per cent in 2019.

Since that initial investment by Porsche, Hyundai has also invested in Rimac to gain access to its tech, and Rimac now works with a wide range of EV makers including Hyundai/Kia, Porsche, Aston Martin and Koenigsegg, having doubled its workforce to almost 1,000 since 2018.

Mate Rimac, CEO of Rimac Automobili, said:

Porsche has been a big supporter of our company since 2018, and it has always been a privilege to have one of the world’s most iconic sports car brands be a part of Rimac. We’re proud to work together on new exciting and electrified products and of the fact that Porsche’s trust in Rimac resulted in several rounds of investment, making Porsche an important shareholder of the company.

With many OEMs across the world being Rimac customers, it is important, both for Rimac and Porsche, that we remain an entirely independent business.

Porsche say they have already paled orders with Rimac for “highly innovative series components”, and are expanding co-operation and benefiting from Rimac’s innovation.

All of which sounds like a win-win.