Italian private equiy firm Investindustrial has invested €120 million (£99.7m) in the Rimac Group, joining Porsche, Hyundai and other high-profile firms as large-scale investors in the fast-expanding Croatian outfit.
Investindustrial, which in 2019 became the controlling shareholder of British sports car firm Morgan, first invested in Rimac last year, and says it has been supporting Rimac “by leveraging its deep automotive experience, developed with current and prior investments in Ducati, Aston Martin and Morgan Motors”.
The investment firm estimates that electric vehicles will make up a third of the market by 2025 and more than half by 2023, and thus aims to “accelerate the transition to electrification by backing the best available technological solutions for high-performance electric vehicles developed by Rimac Technology”.
