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Porsche has raised its ownership stake in Rimac, going from owning a minority share of 15.5 percent to 24 percent. The deal cost Porsche €70 million, or around $83.2 million based on current exchange rates. This is the third time the German automaker has invested in its Croatian company. Back in 2018, Porsche secured a 10 percent minority stake in Rimac before that share grew to 15.5 percent in 2019. Other automakers have also bought into Rimac, specifically Hyundai and Kia. The two Korean brands invested €80 million, or around $95.1 million, as part of a technical partnership that would give birth to a pair of high-performance electric vehicles.
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