Porsche pours extra cash into EV supercar firm Rimac

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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 extra funds coming in from funding giants Softbank and Goldman Sachs. All of that may be a enormous vote of confidence within the firm, which has turn into 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 new, high-profile traders. “SoftBank is the largest tech investor on the earth, and Goldman is a really huge monetary investor,” mentioned Rimac founder and CEO, Mate Rimac. The cash shall 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 absolutely 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, just lately unveiled the 1,914-horsepower Rimac Nevera EV hypercar that can go from 0-60 MPH in 1.85 seconds and have an estimated high 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 staff, unbiased of our father or mother firm. A few of our tales embody affiliate hyperlinks. Should you purchase one thing via considered one of these hyperlinks, we might earn an affiliate fee.

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