Porsche strengthens ties with electric supercar startup Rimac in new funding round

Image: Rimac

A $500 million investment round for Rimac, a Croatia-based startup that makes electric cars, will strengthen the ties between the two companies. The amount of money that was invested in Rimac was not disclosed, but it was eight figures.

Volkswagen transferred ownership of the startup to the new owners, which led to a joint venture between the two companies. Today's investment news shows that Rimac has a positive perception of its future. Greyp is an electric mountain bike company founded by Rimac's CEO.

The deputy chairman of the executive board of the company says he is delighted that Rimac has gained prominent new investors. SoftBank's Vision Fund 2 is one of the investors.

Rimac was founded in a garage by a single person. Over the last few years, the company has become a highly desirable brand, with many legacy automakers calling upon the startup to help build their own electric supercars.

Image: Porsche

Why that is is not much of a question. Rimac released the Nevera, a quad- motor, 1,914 horsepower demonstration of electric absurdity, with a top speed of 258 mph and an ability to leap from 60 mph in less than two seconds. The Nevera is expected to be the fastest sports car ever made.

Rimac plans to hire 200 additional employees and invest in expanding its production capacity in order to take advantage of the new funding. There is a limit on the Nevera of 150 units.

Rimac has ambitious growth plans for the coming years, and it was thanks to the vote of confidence that Rimac was able to do that, said Rimac in a statement.