Porsche has increased its stake in hypercar and technology company Rimac Automobili to 15.5%.
In June 2018, the sports car manufacturer purchased a 10% stake in Rimac. The additional investment is now strengthening the established partnership, it said.
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As Porsche increases the scale of its electrified model range, the partnership will call on Rimac's expertise in vehicle electrification, including powertrains, batteries and other components related to electrification and autonomous driving.
"Porsche has accompanied Rimac in its positive development for a year," said Lutz Meschke, Porsche CFO.
"It quickly became clear to us that [we] could learn a lot from each other. We are convinced of Mate Rimac and his company, so now we have increased our stake and are expanding our cooperation in battery technology."
Alongside partnering high-performance car brands, a 600-strong team works with founder Mate Rimac to develop electric road cars.
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By GlobalData"It was one of the most important milestones in our history to win Porsche as a partner. The fact that Porsche is now increasing its stake is the best confirmation of our cooperation and the basis for an even closer relationship," said Rimac.
"We are just at the beginning of our partnership – and yet our high expectations have already been met. We have many ideas that we want to action together in the future. The key is to create a win-win situation for both partners and to add value to our end customers by developing exciting electrified models."
The latest investment will contribute to the rapid pace of development at Rimac, which includes the significant scaling-up of its high-performance component production. This move will enable the business to support a greater range and volume of partners with production ranging from advanced powertrains and drivetrains, to infotainment and connectivity systems.
