Photo: Porsche
Porsche has announced it has made a new step in its collaboration with Rimac. The German company is participating in a new funding round for the Croatian company. The latter is growing, and the series D funding round is led by Softback Vision Fund 2, along with Goldman Sachs Asset Management.
The total volume of this funding round is 500 million euros, as Porsche notes, out of which the German company will bring "an eight-figure sum."
The sum is undisclosed, but Porsche has mentioned it will continue to hold "around 20 percent" of the Rimac Group after the transaction is completed.
Meanwhile, Mate Rimac, the founder and CEO of the Rimac Group, will remain the biggest shareholder of the company that bears his name. As he explained, the Rimac Group plans to invest the fresh capital in expanding its production capabilities for high-volume projects, as well as hiring more staff.
Just in 2022, the Rimac Group intends to hire 700 additional employees, which is a decision that may be linked to the intentions regarding the high-volume production mentioned above.
Now, Porsche has had the inspiration of investing in Rimac since 2018, which made the Croatian company even more attractive to other investors.
Ever since, the German conglomerate has kept increasing its stake in Rimac, but there is no mention of an intention of going past these 20 percent mentioned above. On the other hand, there is no mention of not planning to do so, but it will be up to the company's board to decide the next steps.
In case you forgot, Porsche and Rimac teamed up in a joint venture last November with Bugatti, which will see the brands work together on certain aspects that are behind the scenes, but remain independent of each other.
The Rimac Group is not just about Rimac vehicles, held by Rimac Automobili, but also includes a technology division. That one develops and manufactures high-performance EV components, such as e-axles and batteries for electric vehicles.
The importance of these components grows by the day in the automotive industry, and Rimac will be an even more sought-after Tier 1 technology partner.
The sum is undisclosed, but Porsche has mentioned it will continue to hold "around 20 percent" of the Rimac Group after the transaction is completed.
Meanwhile, Mate Rimac, the founder and CEO of the Rimac Group, will remain the biggest shareholder of the company that bears his name. As he explained, the Rimac Group plans to invest the fresh capital in expanding its production capabilities for high-volume projects, as well as hiring more staff.
Just in 2022, the Rimac Group intends to hire 700 additional employees, which is a decision that may be linked to the intentions regarding the high-volume production mentioned above.
Now, Porsche has had the inspiration of investing in Rimac since 2018, which made the Croatian company even more attractive to other investors.
Ever since, the German conglomerate has kept increasing its stake in Rimac, but there is no mention of an intention of going past these 20 percent mentioned above. On the other hand, there is no mention of not planning to do so, but it will be up to the company's board to decide the next steps.
In case you forgot, Porsche and Rimac teamed up in a joint venture last November with Bugatti, which will see the brands work together on certain aspects that are behind the scenes, but remain independent of each other.
The Rimac Group is not just about Rimac vehicles, held by Rimac Automobili, but also includes a technology division. That one develops and manufactures high-performance EV components, such as e-axles and batteries for electric vehicles.
The importance of these components grows by the day in the automotive industry, and Rimac will be an even more sought-after Tier 1 technology partner.
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