Bugeye Sprites and other small roadsters might not seem up to the task, but collectors with some time on their hands have eagerly made the trek.
The small firm has been working with clients to build up their community efforts and its team will now be tasked with building up some of the newsletter company’s upstart efforts for writers in its network.
In a blog post, Substack co-founder Hamish McKenzie said that the company had previously used the People & Co. team to consult on their fellowship and mentorship programs and that members of the team would now be working on a variety of new efforts from scaling programs to help writers with legal support and health insurance to community-guided projects like workshops and meetups to help crowdsource insights.
“These people are the best in the world at what they do, and now they’re not only working for Substack, but they’re also working for you,” McKenzie wrote.
Beyond Substack, previous partners with People & Company include Porsche AG, Nike and Surfrider.
Substack has been blazing ahead in recent months, adding new partners and raising cash as it aims to bring on more and more subscribers to its network. The firm shared back in late March that it had raised a $65 million round at a reported valuation around $650 million according earlier reporting by Axios.
Almost every carmaker has had to curtail production, hampering the economic recovery.
Rimac Automobili, the Croatian company known for its electric hypercars and battery and powertrain development, has gained yet another investment from Porsche AG.
Porsche said Monday it has invested 70 million euros ($83.3 miilion) into Rimac, a move that increases its stake from 15% to 24%.
This is the third time Porsche has invested into Rimac. The German automaker made its first investment into Rimac in 2018. Porsche increased its equity stake into Rimac in September 2019. A few months earlier, Hyundai Motor Company and Kia Motors jointly invested €80 million ($90 million at the time) into Rimac.
Rimac was founded by Mate Rimac in 2009 and is perhaps best known for its electric hypercars, such as the two-seater C Two that it debuted in 2018 at the Geneva International Motor Show. The vehicle produces an eye-popping 1,914 horsepower, has a top speed of 256 miles per hour and can accelerate from 0 to 60 mph in 1.85 seconds. Rimac plans to unveil C Two in its final form in 2021.
However, Rimac does more than produce hypercars. The company, which employs 1,000 people, also focuses on battery technology within the high-voltage segment, engineers and manufactures electric powertrains and develops digital interfaces between humans and machines.
Porsche is most interested in Rimac’s development of components, according to comments made by Lutz Meschke, the deputy chairman of Porsche AG’s executive board. Meschke noted that Rimac is “excellently positioned in prototype solutions and small series” and “is well on its way to becoming a Tier 1 supplier for Porsche and other manufacturers in the high-tech segment.”
Porsche has already placed its first orders with Rimac for the development of highly innovative series components, according to Meschke.
Despite its continued investments, Porsche said it doesn’t have a controlling stake in Rimac.
Even before G.M. announced it would work toward eliminating emissions from its vehicles, more automakers were putting E. V.s in their showrooms. Here’s a roundup.
The Tesla Model S and the Porsche Taycan give environmentally conscious speedsters an outlet for their desires.
Station wagons outsell them, but convertibles hold a special place in the hearts of drivers, and automakers still offer a smorgasbord of models.
Put through its paces on a motor club’s racetrack, the 2021 Porsche 911 Turbo S growls with a gaudy 640 horsepower and handling that lets even amateur drivers feel like superheroes.
A subscription service for fast cars aims to tap a new market. S.U.V.s dominate during the week, and convertibles or sports cars become more popular on weekends.
Aston Martin is re-creating the Bond DB5, as seen in “Goldfinger,” with all the (responsible) spy gear it could stuff into it.