Porsche participates in fundraising for electric supercar maker Rimac: Automobilwoche

FRANKFURT (Reuters) – The Volkswagen Porsche unit is participating in a Rimac Automobili fundraising round that will see the electric supercar maker raise € 130 million to € 150 million ($ 157 million to $ 181 million), owner Mate Rimac told the weekly Automobilwoche.

The fundraiser is expected to be completed in two to three months and another round is scheduled for the end of the year, Rimac told the trade newspaper.

Porsche has a 15.5% stake in Rimac Automobili and could increase its stake to just under 50% under a deal that would also include the transfer of the Volkswagen Bugatti supercar brand to Rimac, Automobilwoche said.

Volkswagen and Rimac were not immediately available for comment on Sunday.

Porsche chief executive Oliver Blume said earlier this month that intense discussions about the future of Bugatti were underway and that Rimac could play a role as brands are well suited to technology, adding that a decision was expected in the first half of 2021.

Rimac has developed an electric supercar platform, which it supplies to other car manufacturers, including Automobili Pininfarina.

“Supercars have a limited market, the component market is much larger. That’s why we plan to expand our business, ”Rimac told Automobilwoche.

This includes plans to more than double Rimac Automobili’s workforce by early 2023 to 2,500 from the current 1,000, he said.

(1 USD = 0.8282 euros)