Porsche has raised its ownership stake in Rimac, going from owning a minority share of 15.5 percent to 24 percent. The deal cost Porsche €70 million, or around $83.2 million based on current exchange rates. This is the third time the German automaker has invested in its Croatian company. Back in 2018, Porsche secured a 10 percent minority stake in Rimac before that share grew to 15.5 percent in 2019. Other automakers have also bought into Rimac, specifically Hyundai and Kia. The two Korean brands invested €80 million, or around $95.1 million, as part of a technical partnership that would give birth to a pair of high-performance electric vehicles.
Porsche’s 24-percent stake in Rimac still doesn’t give it controlling interest in the Croatian automaker.
Meschke noted that Rimac is “excellently positioned in prototype solutions and small series” and is on its way to coming a “Tier 1 supplier” for Porsche and other automakers in the high-tech segment. It’s widely acknowledged that Rimac is more than just an automaker in the hypercar and EV segments; it also specializes in battery technology and electric powertrains. That’s on top of its expertise in creating digital interfaces.
Rimac’s know-how in those fields is where Porsche’s interest lies. Meschke even noted that Porsche has already placed its first orders for the development of highly innovative series components that the German automaker plans to use on its future electric models. Considering the recent Autocar report that touched on Porsche looking into adding more EV models to the Taycan EV lineup, it’s possible that some of the technologies that will be used on those future models could come from Rimac.
It’s unclear if Porsche’s increased stake in Rimac will have any effect on reports that the Volkswagen Group could sell Bugatti to Rimac. A decision on that matter is expected to come sometime in the first half of the year. Porsche and Bugatti are both owned by the Volkswagen Group.