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Porsche Participates in Financing Electric Supercar Maker Rimac: Automobilwoche by Reuters

© Reuters.File photo: Porsche logo can be seen outside Porsche car dealers during the outbreak of coronavirus disease (COVID-19) in Brussels

Porsche of the Frankfurt (Reuters) -Volkswagen (DE :) unit is participating in the Rimac Automobili funding round, with electric supercar makers ranging from 130 million to 150 million euros (from $ 157 million) Raising $ 181 million), owner Maitrimac told Automobili Wash every week.

Rimac told trade magazines that funding would be completed in a couple of months and another round is planned for the end of the year.

Porsche owns a 15.5% stake in Rimac Automobili, and the deal includes the transfer of Volkswagen’s supercar brand Bugatti to Rimac, which Automobili said could raise its stake to just under 50%. Wash said.

Volkswagen and Rimac were not immediately available for comment on Sunday.

Porsche CEO Oliver Blume said earlier this month that there was intense debate about Bugatti’s future and that Rimac could play a role due to the brand’s technical excellence in 2021. He added that a decision was expected in the first half.

Rimac has developed an electric supercar platform to supply other automakers, including Automobili Pininfarina.

“The market for supercars is limited and the market for components is much larger, so we plan to expand our company,” Rimac told Automobili Wash.

He said this included plans to double the Rimac Automobili workforce from the current 1,000 to 2,500 by early 2023.

($ 1 = 0.8282 euros)

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Porsche Participates in Financing Electric Supercar Maker Rimac: Automobilwoche by Reuters

https://www.investing.com/news/stock-market-news/porsche-to-participate-in-fundraising-of-electric-supercar-maker-rimac-automobilwoche-2432455 Porsche Participates in Financing Electric Supercar Maker Rimac: Automobilwoche by Reuters

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