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Porsche buys 10-percent stake in Rimac

by Ronan Glon

The two companies seek a technology transfer.

Porsche has announced it has purchased a 10-percent stake in Rimac, the Croatian start-up who specializes in making electric high-performance cars.

"This partnership now is an important step for Rimac on our way to become a component and system supplier of choice for the industry in electrification, connectivity, and the exciting field of advanced driver assistance systems", explained founder and CEO Mate Rimac.

Neither party commented on the terms of the deal. Rimac is privately owned so it's difficult to pinpoint its overall value. And, Porsche hasn't revealed whether it wants to later buy more of the Croatian firm or if it's content with its 10-percent stake.

Porsche wrote in a statement that it's seeking a development partnership with Rimac. "We feel that Rimac's ideas and approaches are extremely promising, which is why we hope to enter into close collaboration with the company in the form of a development partnership," said Porsche board member Lutz Meschke.

Both brands have high-profile model launches coming up. For Porsche it's the Taycan, the Model S-fighting sedan formerly known as the Mission E. For Rimac it's the Concept Two (pictured), the sold-out 2,000-horsepower hypercar it showed at the Geneva auto show. It will be interesting to see if the Taycan uses Rimac components and whether the Concept Two benefits from Porsche's expertise.

Photo by Ronan Glon.