While most people aren’t aware of Rimac, they are shaping up to be a major player in the electric vehicle industry. Their first two vehicles are EV hypercars (which Richard Hammond famously drove off an Alpine mountainside), and it is some serious machinery. The Rimac Concept Two generates nearly 2,000 electric horses and can accelerate from 0-100kph in 1.8 seconds.
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Recognising the technological prowess of the up-and-coming car manufacturer, Porsche bought into Rimac early on and has now increased its stake in the business. Porsche has invested an additional €70 million ($83.3 million) in Rimac, boosting its stake in the hypercar manufacturer and EV component supplier from 15 to 24 percent. The announcement shows that Porsche feels they could use the expertise, as they start expanding their own EV range that started with the Taycan.
Korean automaker Hyundai also has a major stake in the Croatian EV manufacturer, having recently put in €80 million ($95 million).
Rimac is a major manufacturer of high-performance EV parts, including drivetrains and batteries, which is why traditional car manufacturers are showing so much interest. “Porsche has already placed its first orders with Rimac for the development of highly innovative series components,” said Porsche deputy chairman Lutz Meschke in a statement.
Other major manufacturers are also working with Rimac, including Aston Martin, Koenigsegg and Renault. In an interview in 2020, CEO Mate Rimac said Porsche asked his company to work on an (unnamed) car in development at the time, challenging Rimac to “make it better” in three months. “We managed to surprise them with the timing and performance of what we did,” he said.
One thing is for sure – the electric vehicle market is moving ahead in leaps and bounds and Tesla won’t have an open playing field for much longer.
