Over a year back, renowned German automaker Porsche AG invested by purchasing 10% shares in a Croatian electric sports car manufacturing company Rimac Automobili. Now, the German automaker is raising its investment by acquiring more shares, according to an announcement. This time, Porsche is specifically investing in Rimac Automobili’s battery technology. The recent investment by the German automaker would lead to the acquisition of 15.5% shares in Croatian electric sports car manufacturer.
Lutz Meschke—Deputy Chairman at Porsche—said that the company plans to reinforce its association in the battery technology sector. He also stated that by the end of 2025, the company would invest over $6 Billion into electric mobility. For developing the most-recent Taycan model, Porsche spent more than $1 Billion, including its factory expansion cost.
Rimac’s founder Mate Rimac stated that it is just an initial phase of collaboration with Porsche, and the German automaker is assuring the partnership by raising its stakes. Both the automakers have numerous ideas, which they intend to develop mutually in the coming years.
On a related note, another global-leading German automaker Volkswagen has decided to merge of all its three business operating entities (Skoda Auto India, Volkswagen Group Sales, and Volkswagen India) into one (Skoda Auto Volkswagen India Private Limited). The automaker told its business associates in a memo released last week.
The automaker is planning to boost its establishment in the region by combating the declining demand and precise implementation of the novel “India 2.0” strategy. Volkswagen has planned to focus on mass segment automobiles (passenger vehicles).
Tentatively, Volkswagen Group’s passenger vehicle entities will be merged by September 21.
The automaker also mentioned that all authorized dealership services providers, suppliers, and vendors to the Volkswagen Group will unite with the already collaborated entity Skoda Auto Volkswagen India. This merger would not violate or change any terms & conditions of the entities.