Volkswagen’s luxury division Porsche AG has agreed to raise its stake in Rimac Automobili to 24%, the companies said on Monday, in a deal that values the Croatian electric hypercar maker at 795 million euros ($947 million).
Porsche AG first bought a 10% stake in Rimac in 2018, raising it to more than 15% a year later. Under the latest deal, it is buying a further 8.8% for 70 million euros.
Since Porsche’s first investment, Rimac’s workforce has nearly doubled to 1,000 employees. It is collaborating with carmarkers including Hyundai, Kia and Aston Martin.
Read more at: Reuters
By Christoph Steitz and Mark Potter
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