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Friday, December 2, 2022

Through its investment of 70 million EUR, Porsche increased its share in Rimac Automobiles

Porsche invested 70 million EUR in Rimac Automoblies, increasing thereby its share in the ownership of the company to 24 percent – as reported on Monday on the official website of the Rimac Automobiles Company. With its initial investment in 2018 Porsche attained a 10 percent share in the Rimac Automobiles and increased it by 15.5 percent in 2019. The newest investment enhances the position of Rimac Automobiles as a company specialized for the development of technologies and production of key systems for the high performances electric vehicle market.

Since the inititial Porsche investment in 2018, the Rimac Automobiles team doubled to almost 1000 employees and the Croatian technological company continued developing and producing electric propuslsion circuits, batteries, infotainment systems and other components linked to electrification for numerous automobile producers. Rimac Automobiles is cooperating now with leading car producers, including Hyundai, Kia, Porsche, Austin Martin, Automobili Pininfarina, Koenigsegg and many others.

Porsche has been a great support since 2018 and it was always an honour to have such close cooperation with one of the most significant and progressive manufacturers of sports and premium automobiles. We are proud of the cooperation with Porsche on new exciting projects as well as of the fact that Porsche’s confidence in Rimac resulted in a series of investment cycles, making Porsche an important shareholder of our company. Considering that numerous automobile manufacturers from round the world are our clients, it is important both for Rimac and Porsche to remain completely independent. Our projects and our shareholders are, and always will be, completely separate, which enables us to maintain data confidentiality which our partners expect and for us to continue cooperating with numerous automobile producers.  The partnership with Porsche helps Rimac Automobiles to develop and grow which is beneficial for all our clients, ”Mate Rimac, the founder and CEO of Rimac Automobiles, pointed out on that occasion. Lutz Meschke, deputy CEO and member of the Managing Board for finances and IT in the Porsche AG Company, emphasized that Mate Rimac and his team are key partners who can support them in their development generally and in the development of components particularly. “Rimac is treading along the path that leads his company to becoming a first rate suppliers for Porsche and  other manufacturers in the field of  high technologies- Porsche has already submitted its first orders to Rimac for the development of highly innovative serial components. Rimac inspires us with his innovative ideas. He uses, in the same way, our expertise in production and methodological development know-how. It has been demonstrated that our investment was an appropriate decision since the value of Rimac has increased multi-fold since our initial investment. In addition, the company has technologically developed very well”, Meschke underlined.

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