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Porsche snaps up stake in Rimac

Euro zone: Porsche boss Oliver Blume (left) and Rimac founder and CEO Mate Rimac.

German giant Porsche has bought into Croatian EV specialist Rimac

21 Jun 2018

PORSCHE AG has purchased a 10 per cent stake of Croatian supercar-maker Rimac Automobili to pursue a “development partnership” with the electric-vehicle specialist and its subsidiary Greyp Bikes.
According to a statement from Rimac, the deal will help support Rimac’s advanced technologies and its position as “the leading niche EV technology suppliers and high-performance electric vehicle manufacturers”.
Porsche is in the process of ramping up its electrified offerings, with the freshly minted Taycan fully electric sportscar confirmed for production next year before Australian deliveries start in 2020.
The German car-maker also offers plug-in hybrid powertrain options for its mechanically related Cayenne SUV and Panamera liftback.
Reports have suggested that the company’s existing sportscar line-up, including the 911, Cayman and Boxster, will also gain some form of electrification in the coming years.
Rimac Automobili founder and CEO Mate Rimac said the parternship with Porsche would help his company to grow into one of the main suppliers of EV tech to global car-makers.
“In less than a decade we have built up a comprehensive know-how in developing high-performance electric powertrain and battery technology, innovative infotainment and telemetry systems and many other core vehicle systems,” he said. “Our hypercars are at the pinnacle of technology, redefining the idea of the supercar.
“Still, building a serious automotive supplier and niche sportscar manufacturer is a lifetime challenge and we still have a long way to go. Entering the collaborative partnership with Porsche AG is an important step in our strategy to become a leading EV technology supplier to the global OEMs. 
“We are delighted to have gained a high level of trust from our investors, partners and customers and are looking forward to continue working on exciting projects with our clients across the automotive industry.” 
Porsche deputy chairman and executive board member for finance and IT Lutz Meschke praised Rimac’s capabilities as an electric powertrain manufacturer.
“By developing the purely electric two-seaters super sportscars, like the ‘Concept_One’ and ‘C Two’, as well as core vehicle systems, Rimac has impressively demonstrated its credentials in the field of electromobility”, he said. 
“We feel that Rimac’s ideas and approaches are extremely promising, which is why we hope to enter into close collaboration with the company in the form of a development partnership.” 
Mr Rimac started the company as a garage project in 2009 and since then the Zagreb, Croatia-based outfit now employs more than 400 people.
At this year’s Geneva motor show, Rimac revealed the latest version of its two-seater C Two electric hypercar that pumps out a gargantuan 1491kW, can hit a top speed of 412km/h and has a 650km driving range that can be charged to 80 per cent capacity in 30 minutes via a fast charging system.
Rimac engineers and manufactures high-performance EV powertrains and battery systems, develops digital interfaces between man and machine and produces e-bikes under the Greyp Bikes banner that started in 2013.
Mr Rimac is still the majority shareholder of this company, but Porsche’s investment concludes the Rimac Automobili’s second capital raising round.

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