Porsche is strengthening its relationship with EV supercar maker Rimac, making an “eight-figure” investment for an overall 20 percent stake. TechCrunch reported. Rimac raised a total of $500 million, with additional funding coming from investment giants Softbank and Goldman Sachs. All of this is a huge vote of confidence in the company, which has become a key supplier and collaborator for electric vehicles from Hyundai, Porsche and other established automakers.
Porsche, which invested $83.3 million in Rimac last year, said it was “delighted” that Rimac had attracted some new, high-profile investors. “SoftBank is the largest tech investor in the world, and Goldman is a very large financial investor,” said Mate Rimac, Rimac founder and CEO. The money will be used to build a $200 million Rimac campus in Zagreb, Croatia, and strengthen the company’s subsidiary Rimac Technology, which designs and builds EV parts for other automakers.
Despite the cash inflow from Porsche, Rimac said the overall investment will help it remain independent. “It’s very good for us to have Porsche and Hyundai on board as shareholders, but we don’t want to become fully dependent on them,” said the CEO.
Last year, Rimac formed a joint venture with Porsche to operate Bugatti after Volkswagen ceded ownership. The new company, dubbed Bugatti Rimac, recently introduced the 1,914 horsepower Rimac Nevera EV hypercar, which accelerates from 0 to 60 MPH in 1.85 seconds and has an estimated top speed of around 250 MPH. In addition to Porsche and Hyundai, Rimac Technology develops and manufactures batteries and other components for Koenigsegg, Pininfarina and Aston Martin.
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https://www.engadget.com/porsche-pours-more-cash-into-ev-supercar-company-rimac-084954421.html?src=rss Porsche invests more money in the electric supercar company Rimac