Porsche eyeing to increase shares in EV manufacturer Rimac Automobili to almost 50%

Volkswagen unit Porsche could raise its share in Rimac Automobili from 15.5 percent to almost 50 percent in a deal that would also include the transfer of another Volkswagen supercar brand Bugatti to Rimac.

Porsche is participating in a financing round of Croatia's Rimac Automobili to be completed in two to three months that will see the electric supercar maker raise $157 million-$181 million.

Porsche CEO Oliver Blume had earlier revealed intense discussions on Bugatti’s future were ongoing with Rimac playing a role.

He described both brands as a good technological fit, adding that a decision could be reached in the first half.

Other Rimac investors include Hyundai and Jaguar.

Rimac supplies its electric supercar platform to other carmakers, including Automobili Pininfarina.

According to Rimac Automobili owner Mate Rimac, as the market for supercars is a limited market, they plan to expand as a components supplier.

That plans include doubling Rimac Automobili’s workforce from the current 1,000 to 2,500 by early 2023.