Creator of the Concept One, electric vehicle startup, Rimac Automobili, has received an investment from German automotive giant, Porsche AG.

Rimac Automobili, which was founded by Mate Rimac, focuses on manufacturing parts for electric vehicles with a focus on hypercars and more powerful batteries.

“By developing the purely electric two-seaters super sports cars, like the ‘Concept One’ or ‘C Two’, as well as core vehicle systems, Rimac has impressively demonstrated its credentials in the field of electromobility,” Deputy Chairman of Porsche’s executive board, Lutz Meschke, said, as reported by TechCrunch.

The Croatia-based started recently launched a new electric vehicle, the C Two, which can travel for 405 miles per charge.

Porsche, which just received ownership of a 10 per cent stake in the startup in exchange for the investment, has an electric vehicle, the Taycan planned for launch next year.

Since its founding in 2009, Rimac Automobili has acquired an employee-base of 400 people and showcased its newest vehicle at the Geneva Motor Show earlier this year. The company plans on releasing approximately 150 of the C Two.

The vehicle, which seats two people can go from 0 to 60 miles per hour in 1.85 seconds and will be selling for $2.1 million. It’s speed tops out at 256 miles per hour.

Jaguar, Aston Martin and Renault are among automotive companies the electric vehicle startup has previously worked with.

(Picture courtesy: http://www.rimac-automobili.com/)