Porsche did n’t disclose the exact amount it invested in Rimac, except to say it was’eight figures’. The company wo n’t have a controlling interest in Rimac.

Porsche has grown closer to Rimac, buying shares in the company and setting up a joint venture to run Bugatti after Volkswagen transferred ownership to the startup. Today’s investment news is the latest indication that Porsche has a positive perception of Rimac’s future.

Lutz meschke, deputy chairman of the executive board of Porsche AG, says Rimac has gained prominent new investors. Other investors include SoftBank’s vision fund 2 and Goldman Sachs asset management.

Rimac was founded in 2009 by mate Rimac in a garage as a one-person operation. The company has become a highly desirable brand, with many automakers calling upon the startup to help build their own electric supercars.

With the new funding, Rimac plans to hire 200 additional employees in 2022 and invest in expanding its production capacity for’high-volume projects’.