Porsche pours more cash into EV supercar company Rimac

Porsche is strengthening its relationship with EV supercar firm Rimac, investing “eight figures” for a complete possession stake of 20 p.c, TechCrunch reported. Rimac scored $500 million in complete, with further funds coming in from funding giants Softbank and Goldman Sachs. All of that may be a large vote of confidence within the firm, which has turn out to be a key provider and collaborator on EVs constructed by Hyundai, Porsche and different mainstream automakers. 

Porsche, which invested $83.3 million in Rimac final 12 months, stated it is “delighted” that Rimac has gained some new, high-profile buyers. “SoftBank is the largest tech investor on the planet, and Goldman is a really huge monetary investor,” stated Rimac founder and CEO, Mate Rimac. The cash can be used to construct a $200 million Rimac campus in Zagreb, Croatia and bolster the corporate’s Rimac Know-how subsidiary, which designs and builds EV elements for different automakers. 

Regardless of the inflow of money from Porsche, Rimac stated the general funding will assist it stay impartial. “It’s superb for us to have Porsche and Hyundai onboard as shareholders, however we don’t wish to be totally depending on them,” the CEO defined. 

Final 12 months, Rimac arrange a three way partnership with Porsche to run Bugatti after Volkswagen ceded possession. The brand new entity, referred to as Bugatti Rimac, lately unveiled the 1,914-horsepower Rimac Nevera EV hypercar that may go from 0-60 MPH in 1.85 seconds and have an estimated high velocity round 250 MPH. Other than Porsche and Hyundai, Rimac Know-how develops and manufactures batteries and different parts for Koenigsegg, Pininfarina and Aston Martin.