Rimac Automobili, the Croatian manufacturer of electric supercars and hi-tec solutions for e-cars, has taken control of Bugatti. The iconic French brand since 1998 included in the Volkswagen group managed by Porsche this year will in fact converge as Bugatti Rimac, in the Rimac Group which will be the main shareholder with a 55% stake and the remaining 45% will be Porsche. Bugatti will be brought into the new joint venture by the current Volkswagen owner and the shares will then be transferred to Porsche.
Porsche and Rimac have finalized plans to establish a new joint venture which will include Bugatti and which will be called Bugatti Rimac. The founder, Mate Rimac, will keep his original stake in the Rimac Group at 37%, with Porsche at 24%, Hyundai Motor Group doing the same at 12% and other investors at 27%. The agreement was signed by the managing directors of the two companies Oliver Blume and Mate Rimac The related contracts were signed by the managing directors of the two companies Oliver Blume and Mate Rimac, establishing the division of the shares in Bugatti Rimac with 55% held by Rimac Automobili and 45% by Porsche. The establishment of the mixed company is expected to take place in the fourth quarter of 2021, after obtaining the approval of the antitrust authorities of several countries.
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The new set-up
The development, production and supply of battery systems, transmissions and other components for Battery electric vehicles for which Rimac is valued as a supplier to many automotive manufacturers will be separated and incorporated into a new entity: Rimac Technology, which will be 100 owned. % from the Rimac Group. Rimac Technology will remain an independent company that collaborates with many global car manufacturers.
Start-up hi-tech
In just 10 years, Rimac Automobili has gone from starting a one-man workshop, to announcing a new company with one of the world‘s most iconic automotive brands to create Bugatti Rimac, combining technical expertise and agility of a dynamic start-up with the heritage and emblem of Bugatti’s 110-year design and engineering prowess.
The French brand will bring all its know-how in the production and craftsmanship, in carbon fiber and other light materials, in the production of small series, as well as a unique and experienced network of dealer partners of the company.