Porsche has said it has taken a stake of 10% in Croatia's technology and electric sports car maker Rimac Automobili and and its subsidiary Greyp Bikes. Price was not disclosed.  

The partnership aims to support Rimac's and Greyp's advanced technologies and their positioning as a niche EV technology suppliers and high-performance electric vehicle manufacturers.

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Mate Rimac, Founder and CEO of Rimac Automobili said: "Building a serious automotive supplier and niche sportscar manufacturer is a lifetime challenge and we still have a long way to go.  Entering the collaborative partnership with Porsche AG is an important step in our strategy to become a leading EV technology supplier to the global OEMs. We are delighted to have gained a high level of trust from our investors, partners and customers and are looking forward to continue working on exciting projects with our clients across the automotive industry."

"By developing the purely electric two-seaters super sports cars, like the 'Concept_One' and 'C Two', as well as core vehicle systems, Rimac has impressively demonstrated its credentials in the field of electromobility," said Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche. He adds: "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."

The new funding round should boost the business and support the global expansion of Rimac and Greyp. As a co-investor in Rimac's series B round led by Camel Group Co. Ltd., Porsche AG concludes the company's second capital raising round. As of June 2018, the founder and CEO Mate Rimac remains the majority shareholder.

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