Obsessed with technology?
Subscribe to the latest tech news as well as exciting promotions from us and our partners!
By subscribing, you indicate that you have read & understood the SPH's Privacy Policy and PDPA Statement.
News
News Categories

Porsche now owns nearly a quarter of Croatian EV maker Rimac

By Kenny Yeo - on 9 Mar 2021, 9:25am

Porsche now owns nearly a quarter of Croatian EV maker Rimac

Whether we like it or not, electric cars are our inevitable future and Porsche has just increased its stake in Rimac from 15.5% to 24%.

Rimac, for the uninitiated, is a Croatian car maker that specialises in electric supercars. The company only develops and licenses its electric car systems to other brands.

Specifically, Porsche has invested another €70million in the company. Clearly, the German automaker thinks highly of Rimac because this latest round of investment comes after the company first acquired a 10% stake in Rimac in 2018.

Porsche has reportedly already placed orders with Rimac "for the development of highly innovative series components."

Despite the investment, Rimac will remain a fully independent company. They will continue to develop and sell components to other manufacturers, and will continue to operate freely.

Rimac is perhaps most famous for its Concept One electric supercar. The Concept One has a total output of over 1,200hp and can sprint from 0-100km/h in just 2.5 seconds.

In 2017, The Grand Tour presenter Richard Hammond famously crashed an example in an episode.

The company is currently working on the successor to the Concept One. Called the Concept Two, the car will reportedly feature four electric motors of a combined output of over 1,900hp. 0-100km/h is said to take place in just 1.85 seconds with a top speed of over 400km/h.

Source: Top Gear

Join HWZ's Telegram channel here and catch all the latest tech news!
Our articles may contain affiliate links. If you buy through these links, we may earn a small commission.