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Porsche Increases Stake In Superfast Electric Car Maker, Rimac, To 24% After Investing 70m Euros
Volkswagen-owned Porsche increases stake in EV maker Rimac Automobili from 15.5 percent to 24 percent after investing 70 million euros.
Rimac CEO, Mate Rimac
German sports car manufacturer Porsche AG has increase its stake in Rimac Automobili from 15 to 24 per cent by investing additional 70 million Euros in the EV company.
Porsche joined Rimac as an investor in 2018. The Volkswagen-owned luxury carmaker increased its stake from 10 per cent to 15.5 per cent in September 2019.
The latest capital increase means that Porsche will hold 24 per cent of the shares without exercising a controlling influence.
Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG, said :
“Rimac is excellently positioned in prototype solutions and small series,”
“Mate Rimac and his team are important partners, especially when it comes to supporting us in the development of components.
“Rimac is well on its way to becoming a Tier 1 supplier for Porsche and other manufacturers in the high-tech segment.
Porsche has already placed its first orders with Rimac for the development of highly innovative series components,”
Meschke added that :
“Mate Rimac inspires us with his innovative ideas. By the same token, he benefits from our know-how in production and methodological expertise in development.”
Company founder Mate Rimac welcomes the fact that Porsche steps up its commitment.
“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,”
He added that :
“We’re proud to work together on exciting new electrified products. With many car manufacturers across the world being Rimac customers, it is important, both for Rimac and Porsche, that we remain an entirely independent business.
The partnership with Porsche helps the company develop and grow which is beneficial for all of our customers.”
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See Also : Volkswagen Could Sell Bugatti To Rimac By Q1 2021 To Increase Its Stake In The EV Company To 49%
