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Porsche raises stake in electric sports car maker Rimac to 15.5%

Porsche AG, a unit of Volkswagen AG, said Sept. 6 that it raised its stake in Croatian electric vehicle maker Rimac Automobili d.o.o. to 15.5% from 10%.

The German luxury-car maker acquired its initial stake in Rimac in June 2018. At the time, Porsche said it decided to enter into a development partnership because the company feels "Rimac's ideas and approaches are extremely promising."

Rimac designs, develops and manufactures electromobility parts and all-electric two-seater "super sports cars" such as its Concept One and C Two models. It also develops and produces electric bikes. The company has 550 employees in Zagreb, Croatia's northwestern capital.

Porsche Deputy Chairman Lutz Meschke said the company increased its stake in Rimac to strengthen its collaboration in the field of battery technology.