This is great news for both parties.
Last month, we heard rumors that Bugatti could be bought by Croatian technology company Rimac. While we haven't heard anything regarding this possible deal in the weeks since, there was another rumor that distracted us from the potential Bugatti deal - Porsche may be interested in increasing its investment in Rimac. This is no longer a rumor, with the companies now announcing that Porsche has expanded its stake in Rimac to 24 percent following the investment of an additional €70 million (approximately $83 million). This follows the 10 percent investment Porsche made in 2018 that was increased to 15.5 percent in 2019.
Rimac has come a long way from the days of its Concept_One supercar and is now more of a components supplier than a manufacturer. This is what has attracted companies like Hyundai, Kia, Porsche, Aston Martin, Pininfarina, Koenigsegg, and others to work with the brand.
Mate Rimac, the founder and CEO of the company, explained how these competing marques are all able to work with Rimac, saying: "Our projects and our shareholders are - and will always be - entirely separate, allowing us to maintain the information firewall that our partners rely on, and enabling us to continue working with many OEMs. The partnership with Porsche helps the company develop and grow which is beneficial for all of our customers."
Porsche elaborated on its excitement towards the increased investment by saying that "Mate Rimac inspires us with his innovative ideas. By the same token, he benefits from our know-how in production and methodological expertise in development. Our investment in the company has turned out to be absolutely right," says Porsche Deputy Chairman of the Executive Board for Finance and IT Lutz Meschke. "We are expanding our cooperation step by step and are also benefiting from Rimac's strength in innovation." But don't worry - Rimac is not abandoning its plans to continue its work as an automaker and has promised that the production C_Two will be revealed in a few months.