Porsche pours additional cash into EV supercar firm Rimac

Porsche is strengthening its relationship with EV supercar firm Rimac, investing “eight figures” for a complete possession stake of 20 p.c, TechCrunch reported. Rimac scored $500 million in whole, with further funds coming in from funding giants Softbank and Goldman Sachs. All of that may be a enormous vote of confidence in the corporate, 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 is “delighted” that Rimac has gained some recent, high-profile traders. “SoftBank is the most important tech investor on the earth, and Goldman is a really large 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 unbiased. “It’s excellent for us to have Porsche and Hyundai onboard as shareholders, however we don’t need 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, not too long ago unveiled the 1,914-horsepower Rimac Nevera EV hypercar that may go from 0-60 MPH in 1.85 seconds and have an estimated prime velocity round 250 MPH. Other than Porsche and Hyundai, Rimac Expertise develops and manufactures batteries and different parts for Koenigsegg, Pininfarina and Aston Martin. 

All merchandise really helpful by Engadget are chosen by our editorial group, unbiased of our mum or dad firm. A few of our tales embody affiliate hyperlinks. Should you purchase one thing by one in all these hyperlinks, we could earn an affiliate fee.

TechEndowed
TechEndowedhttps://techendowed.com
Your trusted hub for tech and gadget updates. We aggregate news from trusted sources to provide you with trending tech news while covering tech startups, companies, gadget specs, reviews, crypto, and NFT updates.

Latest news

MORE UPDATES

LEAVE A REPLY

Please enter your comment!
Please enter your name here