Porsche invests another $83M in electric supercar maker Rimac

With the latest investment, Porsche now owns 24% of the Croatian firm.

Porsche is on board with Rimac's future.

Rimac has one heck of a partner in Porsche, which took a 15% stake in the Croatian firm back in 2019. On Monday, Porsche upped its confidence in the company with a new $83 million investment to take a 24% stake in Rimac. That's not a controlling stake, so both companies remain independent of one another.

Porsche said the closer ties with Rimac will become an increasing positive as electrification continues to creep into high-performance cars. While Rimac is best known for its totally electric supercars, it's also a supplier for a number of automakers. Porsche said Rimac's on its way to becoming a Tier 1 supplier for the industry and the former's ready to support its growth in big ways.

"Mate Rimac and his team are important partners, especially when it comes to supporting us in the development of components," Lutz Meschke, deputy chairman of the executive board at Porsche, said. He added the German marque already placed its first order with Rimac for "highly innovative series components."

While Porsche and Rimac grow closer, the latter's busy putting the finishing touches on its C_Two supercar. The EV monster was set to release last year, but like so many other projects, the coronavirus pandemic pushed it to this year. We last saw the team crash testing the supercar, and we know Rimac built a new production line to speed up production to homologate the C_Two. When it does land, it promises a 0-60 mph time of just 1.85 seconds -- a clear shot at Tesla's oft-delayed Roadster, which will do the sprint in a promised 1.9 seconds.