Porsche has announced that it is investing in Rimac Automobili, taking a 10 percent share in the Croatian company known for its all-electric supercars. Porsche is launching its Taycan EV and this announcement suggests a parallel programme with Rimac. Porsche will also collaborate with Rimac on the development of future electric-car technologies. Details of the partnership haven’t been detailed, so it is expected both companies will leverage each other’s technology.

“We feel that Rimac’s ideas and approaches are extremely promising, which is why we hope to enter into close collaboration with the company in the form of a development partnership,” Lutz Meschke, Board member responsible for Finance and IT at Porsche, said.

Rimac currently employs about 400 people and focuses on developing high-voltage batteries and electric powertrains, as well as low-volume supercars. The company was founded in 2009 by Mate Rimac. Its most recent car, the C Two, has four electric motors, 1,914 horsepower and a claimed driving range per charge of 403 miles. The carmaker also has a subsidiary called Greyp Bikes that builds electric bicycles.

“This partnership now is an important step for Rimac on our way to become a component and system supplier of choice for the industry in electrification, connectivity and the exciting field of Advanced Driver Assistance Systems,” company founder and CEO Mate Rimac said.

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