Porsche increases stake in hypercar EV maker Rimac

Porsche has increased its stake in Croatian electric vehicle firm Rimac, as part of an increased co-operation in battery technology and other areas. 

The German car maker bought a 10% stake in Rimac in June 2018 and has now increased its holding to 15.5%. The move comes shortly after Porsche launched the Taycan, its first series-production electric car.

According to the two companies, the increased partnership will allow Porsche to "call on Rimac’s expertise in vehicle electrification, including powertrains, batteries and other components related to electrification and autonomous driving".

Lutz Meschke, Porsche’s finance chief, said: “It quickly became clear to us that Porsche and Rimac could learn a lot from each other. We are convinced of [founder] Mate Rimac and his company, so now we have increased our stake and are expanding our cooperation in battery technology.”

Meschke told Autocar: "Rimac is very strong in battery technologies, e-motors and UX [user experience], and we can benefit. It's a win-win situation on both sides." 

The firms have not disclosed how much Porsche paid for the stake.

Porsche isn't the only major car firm to have invested in Rimac. Earlier this year, the Hyundai Motor Group invested £60 million in a deal that includes the development of two high-performance EVs by next year.

Meschke said: "Rimac has a very good chance to have a broad range of customers in both sports cars and the volume segment with Hyundai. We have a very close co-operation with Rimac and we will see the results of that in the upcoming electric Macan and future hybrids."

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