FRANKFURT (Reuters) – The Volkswagen Porsche unit is participating in a financing round from Rimac Automobili that will see the electric supercar maker raise 130 million to 150 million euros ($ 157 million to $ 181 million), said its owner, Mate Rimac, to the weekly Automobilwoche.
Fundraising is expected to be completed in two to three months and another round is scheduled for the end of the year, Rimac told the specialized newspaper.
Porsche has a 15.5% stake in Rimac Automobili and could increase its stake to just under 50% in a deal that would also include the transfer of Volkswagen’s Bugatti supercar brand to Rimac, Automobilwoche said.
Volkswagen and Rimac were not immediately available for comment on Sunday.
Porsche Chief Executive Oliver Blume said earlier this month that intense discussions about the future of Bugatti were underway and that Rimac could play a role, as the brands were a good technological fit, adding that a decision was expected in the first half of 2021.
Rimac has developed an electric supercar platform, which it supplies to other automakers, including Automobili Pininfarina.
“Supercars have a limited market, the component market is much larger. That’s why we plan to expand our company, ”Rimac told Automobilwoche.
This includes plans to more than double the Rimac Automobili workforce in early 2023 to 2,500 out of the current 1,000, he said.
($ 1 = 0.8282 euros)
Reporting by Arno Schuetze; Susan Fenton edition