Porsche increase stake to 15.5 per cent in Rimac

Porsche which took 10 per cent stake in Rimac Automobil, the Coratian electric car group has raised its holdings to 15.5 per cent stake to push into battery technology.

 Rimac builds its own cars but also supplies battery and hybrid technology to high-performance car makers across the industry.

The German brand plans to spend €6bn by 2022, developing battery vehicles , with the first of its electric sports cars the Taycan.

 Rimac, which began in 2009 in founder Mate Rimac’s garage when he converted an old BMW into an electric car, now develops electric components and build its own line of high-performance supercars also supplies to host of carmakers from Aston Martin to Cupra, the sub-brand of  Volkswagen’s Seat nameplate.

Lutz Meschke, deputy chairman pf Porsche’s executive board said : “ Porsche has been supporting Rimac and its positive development for a year now”.

Hyundai and Kia invested $90m in Riumac for a 13.7 per cent stake.

 

Porsche the Zuffenhausen-based company is dipping its toes into the EV market with a Sleek sedan equipped with dual electric motors providing ludicrous supercars level of acceleration with a 2, 295 kg (5, 059 pounds) take only 2.8 seconds to hit 62 mph (100kph).