FRANKFURT — Volkswagen unit Porsche is collaborating in a financing spherical of Rimac Automobili that can see the electrical supercar maker elevate 130 million-150 million euros ($157 million-$181 million), its proprietor Mate Rimac instructed weekly Automobilwoche.

The fundraising needs to be accomplished in two to a few months and one other spherical is deliberate on the finish of the 12 months, Rimac instructed the commerce journal.

Porsche owns a 15.5% stake in Rimac Automobili and will elevate its stake to simply under 50% in a deal that might additionally embrace the switch of Volkswagen’s supercar model Bugatti to Rimac, Automobilwoche stated.

Volkswagen and Rimac weren’t instantly obtainable for touch upon Sunday.

Porsche Chief Govt Oliver Blume stated earlier this month that intense discussions on Bugatti’s future had been ongoing and that Rimac may play a task because the manufacturers had been an excellent technological match, including {that a} choice was anticipated within the first half of 2021.

Rimac has developed an electrical supercar platform, which it provides to different carmakers, together with Automobili Pininfarina.

“Supercars have a restricted market, the marketplace for parts is way larger. That’s the reason we’re planning to increase our firm,” Rimac instructed Automobilwoche.

That features plans to greater than double Rimac Automobili’s workforce by early 2023 to 2,500 from 1,000 at the moment, he stated.

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