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Porsche increases its stake in Croatian manufacturer Rimac

2021-03-08T11:11:00.571Z

The manufacturer of luxury cars Porsche, a subsidiary of Volkswagen, announced on Monday an increase in its stake in the Croatian electric car manufacturer Rimac, a transaction that could be linked to a future takeover by the latter of the Bugatti brand. " The supervisory board of Porsche validated Friday the increase in the stake in Rimac Automobili from 15% to 24% " for 70 million euros " illust



The manufacturer of luxury cars Porsche, a subsidiary of Volkswagen, announced on Monday an increase in its stake in the Croatian electric car manufacturer Rimac, a transaction that could be linked to a future takeover by the latter of the Bugatti brand.

"

The supervisory board of Porsche validated Friday the increase in the stake in Rimac Automobili from 15% to 24%

" for 70 million euros "

illustrating the expansion of the strategic partnership

", according to a press release.

Read also: Ferrari, Porsche, Aston Martin… Watchmaking mercato for luxury cars

Several media had previously mentioned an increased investment by Porsche in Rimac in connection with the acquisition by the Croatian company of the luxury brand Bugatti, owned by Volkswagen and manufacturer of the Bugatti Veyron, one of the most expensive automobiles and fast in the world.

Porsche did not mention such an operation on Monday.

The Zuffenhausen (southwest) brand acquired a stake in Rimac in 2018, which is now “

on track to become a direct supplier to Porsche and other manufacturers

” for complex components.

Become at lightning speed one of the world leaders in electric automobile technology, Rimac, founded in 2009 and employing today 1,000 people, also sells

sports

"

supercar

"

cars

capable of reaching more than 400 km / h

for amazing prices

.

"

It is important for Rimac and Porsche that the two companies remain independent

" noted Mate Rimac, boss and founder, nicknamed the "

Elon Musk of the Balkans

" by the press.

Read also: Automobile: the great face-to-face between manufacturers and Gafa

Volkswagen boss Herbert Diess wants to accelerate the electric shift of the group to twelve brands and simplify its structures to better value it on the stock market.

VW thus floated the Traton heavy-duty division on the stock exchange, with the MAN and Scania brands, and sold its stake in the gearbox manufacturer Renk.

The press also evokes discussions with a view to an at least partial IPO of Porsche.

Source: lefigaro

All business articles on 2021-03-08

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