Porsche increases stake in Rimac to 24% | CAR Magazine

Porsche increases stake in Rimac to 24%

Published: 08 March 2021 Updated: 08 March 2021

► Porsche increases stake in Rimac
► Rimac soon to be Tier 1 supplier
► The C-Two still hasn’t been released 

Porsche has increased its stake in Rimac to 24%, after upping it to 15% just two years ago. The increased investment translates to 70 million of additional support from Stuttgart, and makes Porsche exactly 9% more prepared for the next generation of electric supercars than it was before. 

Coffee with Mate Rimac

Although known primarily for the Concept One and later the C_Two, Rimac has also become a leading manufacturer in high-performance electric vehicle powertrain systems and battery systems. It’s producing batteries for the forthcoming Aston Martin Valkyrie, and even powered the electric E-Type at Prince Harry’s wedding. 

Back in 2019, Porsche’s deputy chairman of the executive board, Lutz Meschke, said: ‘By developing the purely electric two-seater super sports cars, like the Concept One or C_ Two, as well as core vehicle systems, Rimac has impressively demonstrated its credentials in the field of electromobility.’

Now Meschke has heaped further praise on the Croatian start-up, adding: ‘Rimac is well on its way to becoming a Tier 1 supplier [providing vital components] for Porsche and other manufacturers in the high-tech segment. Porsche has already placed its first orders with Rimac for the development of highly innovative series components. 

‘Mate Rimac inspires us with his innovative ideas. By the same token, he benefits from our know-how in production and methodological expertise in development.’

The electric specialist

Despite its small beginnings, Rimac employed 400 workers at its Zagreb base in 2019 and that number continues to grow. It’s still a leader in high-voltage battery technology, electric powertrains and the development of digital interfaces, and even the Hyundai Motor Group – which already has its own E-GMP platform – has a partnership in the works. With so many key buzzwords in its portfolio, you can see why Porsche wants to increase its stake. 

Rimac’s C-Two is still testing, but the company is already becoming the battery supplier of choice for high-end EVs. Think of it like AMD or Intel processors being a mark of high quality in computing hardware, even though they’re found in many different brands of PC. 

In 2019, Mate Rimac, the company’s CEO, said: ‘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’ – and that’s continued to 2021.

By Curtis Moldrich

CAR's Digital Editor, F1 and sim-racing enthusiast. Partial to clever tech and sports bikes