Porsche, Rimac and Bugatti agree foundation of Bugatti-Rimac

Porsche, Rimac and Bugatti agree foundation of Bugatti-Rimac-bugatti

In September 2020, rumors found that the Croatian car manufacturer Rimac Automobil should take over the VW luxury brand Bugatti. So it comes at the end of the second quarter 2021. However, a little differently accepted. Porsche and Rimac have agreed on the founding of a joint venture under integration of Bugatti. Bugatti is introduced via the current owner Volkswagen in the joint venture.

The resulting company will operate in the future as Hypercar manufacturer Bugatti-Rimac. The establishment of the joint venture headquartered in Zagreb (Croatia) is for the fourth quarter 2021. Previously, antitrust authorities must agree in several countries. At the Joint Venture Bugatti-Rimac, RIMAC will hold 55 percent and Porsche 45 percent of the shares. In addition, Porsche is involved with 24 percent directly to Rimac. Bugatti is introduced via the current owner Volkswagen in the joint venture. The proportions are then transferred to Porsche.

“We bundle the strong expertise of Bugatti in the Hypercar business with the great innovative strength of RIMAC at the promising area of electromobility. Bugatti brings a traditional brand, iconic products, a faithful customer base and a worldwide dealer network in the joint venture. RIMAC controls new approaches to the development and organization in addition to the technology.”- Oliver Flower, CEO of Porsche AG

With the announcement of the joint venture, Bugatti-Rimac informs that two Hypercar models are manufactured: the Bugatti Chiron and the Pure Electric Rimac Nevera. Bugatti automobile S.A.S. Stay continues under the new joint venture. In the French Molsheim, all Bugatti models in the own manufactory will continue to be manufactured in the future. Bugatti models developed together for the further future.

“This is a really exciting moment. Rimac Automobil has grown very quickly and the joint venture raises the company to a completely new level. Bugatti and Rimac fit together perfectly and both introduce significant values: We have established ourselves as a industry pioneer for electrical technologies, Bugatti has more than a century experience in the development of top vehicles about one of the most extraordinary traditions in the history of the automotive industry. Together, we combine our knowledge of our technologies and our values with the aim of creating very special projects in the future.”- Mate Rimac, founder and CEO of Rimac

The Croatian company RIMAC develops and produces components for electromobility and manufactures electrical super sports cars themselves. With Porsche, a partnership was already entered in June 2018 to make progress on its own e-offensive progress. This has been deepened for the first time in September 2019. At the beginning of March 2021, the Supervisory Board of Porsche AG approved an increase in the participation in RIMAC. Thus, Porsche has increased its share of 15 to 24 percent in the future.

“This joint venture is the preliminary highlight of a strategic investment chain,” says Financial Officer Lutz Meschke. “We have already bought the first shares in RIMAC in 2018 and have increased them as a gradual since. To Mate and his most innovative team we have built a close relationship early. We benefit from that now. Now Rimac helps us to successfully lead us to the future with his know-how, an emotional and important brand.”

Porsche will take a strong role in the joint venture as a strategic shareholder. Oliver Blume and Lutz Meschke (Deputy Chairman of the Executive Board and Board for Finance and IT of Porsche AG) will be members of the Supervisory Board of Bugatti-Rimac. CEO will be Mate Rimac. The joint venture will have about 430 employees when founded – around 300 at the headquarters in Zagreb and 130 at the Bugatti site in Molsheim.

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1 thought on “Porsche, Rimac and Bugatti agree foundation of Bugatti-Rimac”

  1. That’s really exciting! Very interesting alliance. I’m looking forward to the next Bugatti! Sometimes the classic OEM is very early very close to new companies that move something. So Mercedes saved Tesla at that time and now Porsche discovered early the chances in Rimac.

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