Porsche has bought a 10 percent stake in Croatian electric hypercar maker Rimac for an undisclosed amount. It has been considered that the German carmaker has made the investment to use Rimac’s electric powertrain technology in future models. Meanwhile, this will help Rimac grow, by supplying its powertrain and technological components to other companies.

“We feel that Rimac’s ideas and approaches are extremely promising, which is why we hope to enter into close collaboration with the company in the form of a development partnership,” said Porsche board member Lutz Meschke. “By developing the purely electric two-seaters super sportscars like the Concept One or C Two, as well as core vehicle systems, Rimac has impressively demonstrated its credentials in the field of electro-mobility.”

Porsche’s announcement was focused on Rimac’s expertise in the high-voltage battery tech and EV powertrains that it stands to gain from the deal.

Rimac CEO Mate Rimac said, “This partnership now is an important step for Rimac on our way to become a component and system supplier of choice for the industry in electrification, connectivity and the exciting field of advanced driver assistance systems.”

The move is announced just as Porsche gears up to launch the Taycan – the brand's first Electric Vehicle in its 70-year history – amidst an industry shift towards full electrification.

This is the latest in a series of strategic investments being made in the car industry to accelerate progress in electric vehicle development. Earlier this year, Geely CEO Li Shufu bought a stake of just under 10 percent in Daimler for an estimated £6.4 billion to further Geely’s EV efforts.

The Taycan arrives in 2020 and will be available in several variants, based on a shared architecture named J1. The brand will increase its zero-emissions offerings over time, culminating in its core model, the 911, going electric.

Mini, Vauxhall, BMW, Skoda, Seat and other well-known are all preparing to launch fully electric cars in the next two years, either as derivatives of existing models from their respective line-ups or stand-alone vehicles in their own right.