{"id":23567,"date":"2022-06-01T09:04:42","date_gmt":"2022-06-01T13:04:42","guid":{"rendered":"https:\/\/autosector.com\/?p=23567"},"modified":"2022-06-01T09:04:42","modified_gmt":"2022-06-01T13:04:42","slug":"rimac-bugatti-funding-porsche","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=23567","title":{"rendered":"Rimac Group raises $536 million to fund expansion plans"},"content":{"rendered":"

Croatia-based Rimac Group (which owns a majority stake in Bugatti-Rimac) raised about 500 million euros (around $536 million at the current conversion rate) to fund its expansion plans. Porsche<\/a> is one of the companies that participated in the latest fundraising round.<\/p>\n

The investment was led by the SoftBank Vision Fund 2 and the Private Equity arm of Goldman Sachs Asset Management, though some of the Rimac Group’s existing shareholders, including Porsche and InvestIndustrial (whose portfolio also includes a majority stake in Morgan<\/a> Motors), participated in it as well. The new round of funding raises the company’s value to over 2 billion euros (roughly $2.1 billion).<\/p>\n

Some of the investment will be funneled into Rimac Technology, a division that’s separate from Rimac’s hypercar-building arm<\/a> and whose task is to develop electric-car components for carmakers. It notably has partnerships with Hyundai<\/a>, Koenigsegg<\/a>, and Aston Martin<\/a>. Looking ahead, Rimac Technology plans to gain the capacity to build a diverse selection of parts ranging from hybrid<\/a> systems to rolling chassis.<\/p>\n

Porsche began investing in Rimac in 2018 and it contributed an eight-figure sum to the latest round of fundraising. However, its aim is not to take over the firm. It continues to hold approximately 20% of the Rimac Group, and founder Mate Rimac remains the largest shareholder.<\/p>\n

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