Porsche and Rimac both made electric car news at the Geneva Motor Show this year, showing off the Mission E Cross Turismo and Concept Two, respectively. Now, the two companies are preparing to enter into what’s described as a close collaboration on the heels of Porsche’s announcement that it’s purchased 10 percent of Rimac Automobili.

In reporting the news, Car Magazine points to Rimac’s impressive track record outside of its own concept vehicles, which includes providing the batteries for the forthcoming Aston Martin Valkyrie beastmobile and powering the all-electric Jaguar E-Type Zero, which featured in the most recent British royal wedding. Rimac also provides battery packs and other components to luxury EV maker Koenigsegg. Porsche’s motivation in striking this deal is to get the benefit of Rimac’s proven expertise in speeding up its own electric vehicle development.

Grid View Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

Rimac Concept Two Photo by Vlad Savov / The Verge

“Rimac has impressively demonstrated its credentials in the field of electromobility,” according to Porsche senior exec Lutz Meschke, who goes on to say that Porsche believes “Rimac’s ideas and approaches are extremely promising, which is why we hope to enter into close collaboration with the company in the form of a development partnership.”