Porsche Invests in Croatia’s Rimac Automobili

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Mate Rimac remains the majority owner.

Rimac Automobili and its sister company Greyp Bikes have concluded the second round of investment with a very special partner. A minority stake in Mate Rimac’s companies was bought by Porsche AG.

According to the press release published this morning, on June 20, 2018, the partnership’s goal is to collaborate on the development of electric vehicles and to support Rimac Automobili and Greyp Bikes companies in pursuit of their goal: to become the leading provider of technology solutions for high performance electric cars and the manufacturer of the most exciting electric sports cars.

“In less than a decade we have built up a comprehensive know-how in developing high-performance electric powertrain and battery technology, innovative infotainment and telemetry systems and many other core vehicle systems. Our hypercars are at the pinnacle of technology, redefining the idea of the supercar,” said Mate Rimac, the founder and CEO of Rimac Automobili. “Still, 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. “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.”

Rimac Automobili provides EV solutions to global automotive manufacturers and develops and manufactures high-performance electric vehicles. Mate Rimac’s vision began as a garage project in 2009 and has grown into a 400-people company on the outskirts of Zagreb, Croatia. Its subsidiary Greyp Bikes aims to deliver the most advanced electric bicycle on the market.

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, announced the company in the press release.


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