Hyperdrive
Porsche Lifts Stake in Electric Supercar Maker Linked to Bugatti
- Deal with Rimac could pave way for VW to sell brand to startup
- Founder Mate Rimac says his company remains wholly independent
Porsche AG agreed to lifts its stake in Rimac Automobili, a move that could pave the way for parent Volkswagen AG to sell its ultra-luxury Bugatti brand to the Croatian electric supercar maker.
Porsche will invest 70 million euros ($84 million) to raise its stake in Rimac to 24%, from 15%, in a capital increase, the German manufacturer said in a statement Monday.