CROATIA > Germany based Porsche is set to take 10% stake in Croatia based electric car maker Rimac Automobili

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Porsche AG is set to take a 10% stake in Rimac Automobili which is the Croatian hypercar electric vehicle which is said to be the world’s fastest electric vehicle.

Rimac is the company behind the C Two which was debuted at the Geneva Motor Show in March 2018. C Two has a 1,914-horsepower engine that enables the vehicle to reach a top speed of 256 miles per hour and accelerate from 0 to 60 mph in 1.85 seconds. This is hence faster than Elon Musk’s Roadster unveiled in November. Rimac’s battery also gives 405 miles to a single charge which is nearly double than other EV’s on the market.

According to said Lutz Meschke, deputy chairman of Porsche’s executive board and member of its executive finance and IT board:

“By developing the purely electric two-seaters super sports cars, like the ‘Concept One’ or ‘C Two’, as well as core vehicle systems, Rimac has impressively demonstrated its credentials in the field of electromobility.”

Rimac Automobili plans to produce 150 for its $2.1 million C Two hypercars which was founded by Mate Rimac in 2009. Rimac has already worked with Renault, Jaguar and Aston Martin. Rimac technology was used in the E-Type Zero Jaguar driven by Prince Harry and the Duchess of Sussex at their wedding last month.

Rimac employs around 400 people and is focused on high- voltage battery technology and electric powertrains. Rimac also works on digital interfaces in the car and has electric bikes subsidiary called Greyp Bikes.

About Porsche

Porsche, is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans. Porsche was founded in 1931 by Ferdinand Porsche. Its global headquarter is in Stuttgart, and is owned by Volkswagen Group.

As of 2015 its revenue was €21.533bn($22.79bn) and profit was €2.335bn($2.47bn). Globally it has around 24,481 employees.

About Rimac Automobili

Founded in 2009, Rimac Automobili engages in the design, development, and manufacture of electric vehicles, drivetrains, and battery systems. Headquartered in Croatia, Rimac Automobili products and services include components, such as motors and transmissions, battery systems and BMS, power distribution and management products, infotainment systems, low voltage electric systems, and auxiliary systems; and engineering solutions comprising concept design, virtual design development, design engineering integration, class A surfacing, styling feasibility studies, scale/master-model production and verification, and quality monitoring