One of the best known carmakers in the world, the Stuttgart-based Porsche, announced its decision to buy a 10 percent stake in Croatian electric vehicle companies owned by Mate Rimac, the Rimac Automobili and its sister company Greyp Bikes.

The goal of the partnership is for Rimac to become a leading supplier of technology for the high-performance electric car market, and consolidate its position as a manufacturer of some of the most exciting electric cars in the world.

“In less than a decade, we have gained a significant amount of know-how in developing high-performance car systems and battery technology, innovative infotainment and telemetry systems, and other important car systems. Our cars represent the cutting edge of technology and re-define what a super sports car is,” the company said in a press release.

Rimac Automobili added that the cooperation with Porsche is an important step in their strategic plan which aims to position the company as a major supplier for large carmakers.

Porsche’s Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT, Lutz Meschke, said the company saw Rimac’s ideas and the approach to the electric mobility market very promising, and that it hopes “to enter into close collaboration with the company.”

As of June 2018, founder and CEO Mate Rimac is still the majority owner of both Rimac Automobili and Greyp Bikes.

According to business daily Poslovni Dnevnik, Rimac Automobili employs 400 workers. In 2016 the company posted a revenue of 46.6 million kuna (€6.3 million), and gross profit of 1.9 million kuna (€257,000).

(€1 = 7.37 kuna)

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