Porsche Participating in a Financing Round of Rimac Automobili

Porsche is reportedly participating in a financing round of Rimac Automobili that will see the electric supercar maker raise 130 million-150 million euros ($157 million-$181 million), its owner Mate Rimac told weekly Automobilwoche.

The fundraising is expected to be completed in two to three months and another round is planned at the end of the year.

Currently Porsche owns a 15.5% stake in Rimac Automobili

It could raise its stake to just below 50% in a deal that would also include the transfer of Volkswagen’s Bugatti to Rimac, Automobilwoche said