Porsche Looking For The Next Rimac With New Startup Investment

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The maker of the 911 has announced a large investment in new startups.

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."

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Speaking of Porsche's worth, it began trading on the Frankfurt Stock Exchange in September last year, and it quickly became the most valuable carmaker in Europe. As things stand now, Porsche has expressed confidence in the performance of its existing portfolio, and Porsche Ventures 2.0 will build upon this.

Porsche Ventures' new office in Luxembourg joins other locations in Berlin, Palo Alto, Shanghai, and Tel Aviv. Operations will begin in Luxembourg this month as Porsche Investments Management has already occupied offices there, and the plan is to have ten staff in place by the end of 2023.

There are many promising EV startups trying to grow their footprint in the market, but Porsche's investments have already expanded beyond other carmakers and into the mobility space as a whole. Many are bringing some incredible technologies to the table, but they have a far greater chance of succeeding with the backing of larger entities like Porsche.

We look forward to the exciting partnerships that will undoubtedly stem from Porsche Investments Management and the company's sizable new investment.

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