Porsche is reportedly going to participate in Rimac’s latest financing round as the electric automaker looks to raise €130 million – €150 million ($157 million – $181 million).
Speaking with German publication Automobilwoche, Mate Rimac confirmed the news and added that another financing round is planned for the end of the year, Reuters notes. While it is unclear how much Porsche plans to invest in Rimac, its participation in the financing round suggests that a complex deal involving itself, Bugatti, and Rimac may soon be finalized.
For months, there has been speculation that the VW Group would give the Bugatti brand to Rimac in exchange for Porsche taking a larger stake in the Croatian car manufacturer. The possibility of this deal coming to fruition increased last month following comments made by Porsche chief executive Oliver Blume in February.
Speaking with Reuters, Blume said that Bugatti and Rimac are a good technological fit and that a deal could be reached before the second half of the year.
“At the moment there are intense deliberations on how Bugatti can be developed in the best possible way,” he said. “Rimac could play a role here because the brands are a good technological fit. There are various scenarios with different structures. I believe that the issue will be decided by the group in the first half of the year.”
It is claimed that if a deal is reached, Porsche will increase its current 15.5 per cent stake in Rimac to as much as 49 per cent. Rimac would then be handed the Bugatti brand without any money changing hands.