In a new funding round, Porsche expands relations with electric supercar company Rimac
Porsche is deepening its relationship with Rimac, an electric supercar developer, by investing $500 million in the Croatia-based startup. Porsche would not reveal the specific amount it invested in Rimac, only that it was in the “eight figures.” Furthermore, Porsche will retain its previously announced 20% equity share in Rimac and will not have a controlling interest in the company.
Porsche has grown closer to Rimac over the years, purchasing shares in the company and forming a joint venture to run Bugatti after Volkswagen ceded ownership to the startup. Today’s investment news is the latest indication that Porsche is bullish on Rimac’s prospects. Porsche also has a controlling share in Greyp, an electric mountain bike firm created by Mate Rimac, Rimac’s CEO.