The Volkswagen unit is set to own 24% of the Croatian firm.

It's the second time it's raised its stake since an initial investment in 2018.

The New Deal values remark at $947 million.

Porsche says the firm is becoming a strong player in building prototypes and limited number production cars.

It says Remark is well on its way to becoming a tier one supplier for the high tech segment.

Since Porsche's first investment remark has nearly doubled its workforce and collaborated with carmakers including Hyundai, Kia and Aston Martin, Company founder and Boss Smart remarks says it's a privilege to have Porsche as a shareholder.