The German car maker Porsche has decided to boost its stake in the Sveta Nedelja-based Rimac Automobili from 10% to 15.5%, the Croatian company reported on Friday.

Porsche bought a 10-percent stake in this company last year.

“As Porsche increases the scale of its electrified model range, the partnership will call on Rimac’s expertise in vehicle electrification, including powertrains, batteries and other components related to electrification and autonomous driving,” Rimac Automobili says on its website.

Lutz Meschke, Deputy Chairman of the Executive Board and Chief Financial Officer of Porsche AG was quoted as saying that “Porsche has accompanied Rimac in its positive development for a year. It quickly became clear to us that Porsche and Rimac could learn a lot from each other. We are convinced of Mate Rimac and his company, so now we have increased our stake and are expanding our cooperation in battery technology.”

Rimac Automobili says that “the latest investment will contribute to the rapid pace of development at Rimac, which includes the significant scaling-up of its high-performance component production.”

“This move will enable the business to support a greater range and volume of partners with production ranging from advanced powertrains and drivetrains, to industry-leading infotainment and connectivity systems.”