NEED FOR SPEED. Volkswagen is betting that petrol-heads will soon become eco-warriors. On Monday, VW-owned Porsche announced that it had bought an additional 9% stake in Rimac Automobili for 70 million euros, valuing the Croatia-based electric-supercar maker at 778 million euros. That’s a big jump up from the roughly 28 million euros it paid for a combined 15% stake in 2018 and 2019. Rimac is something of a luxury bauble: the latter’s C Two model – which can reach speeds of over 250 miles per hour – retails at $2.6 million. Still, given VW’s stable of luxury brands, such as Lamborghini, Bugatti and crotch-rocket maker Ducati, Rimac’s battery technology could help steal a march over gas-guzzling rivals. Ferrari, for example, doesn’t expect an electric version of its racers to come out until after 2025. The latter trades at 39 times estimated 2021 earnings, compared to VW’s 9 times, according to Refinitiv data. If the group were to spin off Porsche, or even Lambo, having an electric edge would give a listing extra juice. (By Christopher Thompson)