Porsche Looking For The Next Rimac With New Startup Investment

Porsche's majority acquisition of Rimac and the ensuing tie-up to create Bugatti-Rimac may still be fresh in our minds, but Porsche is already looking for 'the next Rimac.'

Porsche could remain profitable for years by simply focusing on its range of class-leading sports cars like the 911, but this is a company that is always looking for new opportunities to innovate, and it has announced a new investment of €250 million (around $270 million) that will go into new startups. Additionally, the company's venture capital unit, Porsche Ventures, will morph into an independent subsidiary known as Porsche Investments Management S.A., based in Luxembourg.

By reaching out to young startups - Porsche says it has a direct interest in around 60 companies globally through which the Zuffenhausen-based automaker stands to gain access to the latest industry innovations, while helping these companies realize their own goals. Nowhere is this more apparent than with Bugatti Rimac LLC, formed in 2021 and in which Porsche has a 45% stake.

With the Rimac connection, Porsche stands to benefit from that company's electric powertrain expertise. The Rimac Nevera has a four-motor electric powertrain making 1,914 horsepower, and the company is also working on more advanced battery technology. As Porsche moves into the electric era with its own Macan EV, it could theoretically develop an electric hypercar of its own that borrows from the Nevera blueprint. By potentially investing in other impressive startups like Rimac, Porsche will only expand its possibilities.

Porsche has been involved with startups since 2016, so its latest investment extends what has already been a fruitful few years. "Our activities are paying off not only in strategic terms, but also from a financial perspective," said Lutz Meschke from Porsche AG. "They are generating important innovation and investment opportunities, and are already making a growing contribution to the value of the company."