Porsche raises stake in electric car and components maker Rimac Automobili – TechCrunch

The Croatian company Remake Automobili, known for its electric hypercars and battery and powertrain development, has received another investment from Porsche AG.

Porsche said that on Monday it invested 70 million euros ($ 83.3 million) in the remake, a move that would increase its stake from 15% to 24%.

This is the third time Porsche has invested in a remake. The German automaker made its first investment in the remake in 2018. Porsche increased its equity stake in the remake in September 2019. A few months ago, Hyundai Motor Company and Kia Motors jointly Invested € 80 million (90 million dollars at the time) in the remake.

The remake was founded in 2009 by the Met remake and is perhaps best known for its electric hypercars, such as the two-seater Sea Two that it debuted for the first time at the 2018 Geneva International Motor Show. This vehicle produces 1,914 horsepower eyes, which has a top speed of 256 mph and can accelerate from 0 to 60 mph in 1.85 seconds. The remake is planned to unveil Sea Two in its final form in 2021.

However, the remake does more than produce hypercars. The company, which employs 1,000 people, Also focuses on battery technology within the high-voltage segment, building engineers and electric powertrains and developing digital interfaces between humans and machines.

Porsche is interested in developing the components, according to comments made by Lutz Meschke, vice chairman of the executive board of Porsche AG. Meschke noted that the remake is “excellently positioned in prototype solutions and small series” and is “on its way to becoming a Tier 1 supplier to Porsche and other manufacturers in the high-tech segment.”

Porsche has already placed its first order with the remake for the development of highly innovative series components, according to Meshke.

Despite its continued investment, Porsche said it did not have a controlling stake in the remake.