Volkswagen's Porsche AG to raise stake in Croatia's Rimac to 24%

Topics Volkswagen


FRANKFURT (Reuters) - Volkswagen's luxury division Porsche AG has agreed to raise its stake in Rimac Automobili to 24%, the companies said on Monday, in a deal that values the Croatian electric hypercar maker at 795 million euros ($947 million). Porsche AG first bought a 10% stake in Rimac in 2018, raising it to more than 15% a year later.

Under the latest deal, it is buying a further 8.8% for 70 million euros. "Rimac is excellently positioned in prototype solutions and small series," Porsche AG finance chief Lutz Meschke.....

This article is no longer available in our repository.

There could be multiple reasons for this.