Porsche has once again bet on Rimac, investing a further $83.2m and increasing its stake in the electric sports car developer to 24%.
Luxury car manufacturer Porsche has increased its stake in Croatia-based electric sports car developer Rimac Automobili from 15% to 24% by providing €70m ($83.2m) of additional funding.
The investment represents the third time Porsche has provided equity financing for the company, most recently supplying an undisclosed amount in September 2019. The latest deal would value it at about $925m.
Rimac was founded in 2009 and is developing electric sports cars and components for electric vehicles. The company’s latest electric car, the C_Two, can reach a top speed of 412km per hour and can recharge 80% of its battery within half an hour.
The capital injection will involve Porsche and Rimac expanding their strategic partnership. Porsche’s deputy chairman, Lutz Meschke, said: “Our investment in Rimac has turned out to be absolutely right.
“The value has increased many times over since our initial investment. The company has developed very well technologically.…
