Porsche pours additional cash into EV supercar firm Rimac

Porsche is strengthening its relationship with EV supercar firm Rimac, investing “eight figures” for a

Porsche is strengthening its relationship with EV supercar firm Rimac, investing “eight figures” for a complete possession stake of 20 %, TechCrunch reported. Rimac scored $500 million in whole, with extra funds coming in from funding giants Softbank and Goldman Sachs. All of that may be a enormous 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, mentioned it’s “delighted” that Rimac has gained some new, high-profile traders. “SoftBank is the largest tech investor on this planet, and Goldman is a really huge monetary investor,” mentioned Rimac founder and CEO, Mate Rimac. The cash might be used to construct a $200 million Rimac campus in Zagreb, Croatia and bolster the corporate’s Rimac Expertise subsidiary, which designs and builds EV elements for different automakers. 

Regardless of the inflow of money from Porsche, Rimac mentioned 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, just lately unveiled the 1,914-horsepower Rimac Nevera EV hypercar that can go from 0-60 MPH in 1.85 seconds and have an estimated high pace round 250 MPH. Other than Porsche and Hyundai, Rimac Expertise develops and manufactures batteries and different elements for Koenigsegg, Pininfarina and Aston Martin. 

See also  'Murderer's Creed Origins' is getting a 60FPS increase on PS5 and Xbox Sequence consoles

All merchandise really helpful by Engadget are chosen by our editorial group, impartial of our dad or mum firm. A few of our tales embrace affiliate hyperlinks. In case you purchase one thing via certainly one of these hyperlinks, we could earn an affiliate fee.

Learn Full Story At: Engadget.