Jun 1, 2022 - 12:25 pm

Porsche invests more in Rimac

Porsche has participated in another financing round of the Croatian electric car manufacturer Rimac. Porsche is investing a double-digit million euro sum in Rimac as part of the 500 million euro Series D round.

The new financing round is led by Softbank Vision Fund 2, according to the Porsche announcement. Another new investor from the financial sector is Goldman Sachs Asset Management.

However, Porsche has not increased its stake with the renewed financing, but only prevented it from being diluted: After the transaction, Porsche still holds around 20 per cent of the Rimac Group. Company founder and CEO Mate Rimac remains the shareholder with the most shares.

The Rimac Group intends to invest the fresh capital in the expansion of production for high-volume projects. It also plans to hire 700 additional employees this year alone.

“We are pleased that Rimac has gained new renowned investors, we are optimistic about the further development of this exciting company,” says Lutz Meschke, Deputy Chairman of the Executive Board of Porsche AG and Member of the Executive Board for Finance and IT. “With new investors on board, Rimac is further expanding its position in electromobility and thus becoming an even stronger partner for Porsche.”

Last year, Rimac acquired the Bugatti brand from the VW Group. The Rimac Group holds 55 per cent and Porsche 45 per cent of the joint venture called Bugatti-Rimac. As mentioned, Porsche is also a shareholder in the Rimac Group.

porsche.com

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Found on electrive.com
https://www.electrive.com/2022/06/01/porsche-invests-more-in-rimac/
01.06.2022 12:04