Porsche pours more cash into EV supercar company Rimac

Porsche is strengthening its relationship with EV supercar company Rimac, investing “eight figures” for a total ownership stake of 20 percent, TechCrunch reported. Rimac scored $500 million in total, with additional funds coming in from investment giants Softbank and Goldman Sachs. All of that is a huge vote of confidence in the company, which has become a key supplier and collaborator on EVs built by Hyundai, Porsche and other mainstream automakers. 

Porsche, which invested $83.3 million in Rimac last year, said it’s “delighted” that Rimac has gained some new, high-profile investors. “SoftBank is the biggest tech investor in the world, and Goldman is a very big financial investor,” said Rimac founder and CEO, Mate Rimac. The money will be used to build a $200 million Rimac campus in Zagreb, Croatia and bolster the company’s Rimac Technology subsidiary, which designs and builds EV parts for other automakers. 

Despite the influx of cash from Porsche, Rimac said the overall investment will help it remain independent. “It’s very good for us to have Porsche and Hyundai onboard as shareholders, but we don’t want to be fully dependent on them,” the CEO explained. 

Last year, Rimac set up a joint venture with Porsche to run Bugatti after Volkswagen ceded ownership. The new entity, called Bugatti Rimac, recently unveiled the 1,914-horsepower Rimac Nevera EV hypercar that will go from 0-60 MPH in 1.85 seconds and have an estimated top speed around 250 MPH. Apart from Porsche and Hyundai, Rimac Technology develops and manufactures batteries and other components for Koenigsegg, Pininfarina and Aston Martin. 

China’s military scientists call for development of anti-Starlink measures

China must develop capabilities to disable and maybe even destroy Starlink internet satellites, the country’s military researchers said in a paper published by the Chinese journal Modern Defense Technology. The authors highlighted the possibility of Starlink being used for military purposes that could aid other countries and threaten China’s national security. According to South China Morning Post, the scientists are calling for the development of anti-satellite capabilities, including both hard and soft kill methods. The former is used to physically destroy satellites, such as the use of missiles, while a soft kill method targets a satellite’s software and operating system. 

In addition, the researchers are suggesting the development of a surveillance system with the ability to track each and every Starlink satellite. That would address one of their concerns, which is the possibility of launching military payloads along with a bunch of satellites for the constellation. David Cowhig’s Translation Blog posted an English version of the paper, along with another article from state-sponsored website China Military Online that warned about the dangers of the satellite internet service. 

“While Starlink claims to be a civilian program that provides high-speed internet services, it has a strong military background,” it said. Its launch sites are built within military bases, it continued, and SpaceX previously received funds from the US Air Force to study how Starlink satellites can connect to military aircraft under encryption. The Chinese scientists warned Starlink could boost the communication speeds of fighter jets and drones by over 100 times. 

The author warned:

“When completed, Starlink satellites can be mounted with reconnaissance, navigation and meteorological devices to further enhance the US military’s combat capability in such areas as reconnaissance remote sensing, communications relay, navigation and positioning, attack and collision, and space sheltering.”

Between hard and soft kill, the researchers favor the latter, since physically destroying satellites would produce space debris that could interfere with China’s activities. The country previously filed a complaint with the United Nations about the Tiangong space station’s near-collision with Starlink satellites. Apparently, the station had to perform evasive maneuvers twice in 2021 to minimize the chances of collision. Destroying a few satellites also wouldn’t completely take out the Starlink constellation, seeing as SpaceX has already launched over 2,500 satellites at this point in time. 

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