News - Bugatti
Official: Bugatti is going to Rimac via Porsche
Bugatti will be under the ownership of Rimac by 2022, but Porsche still gets a say
7 Jul 2021
BUGATTI has been officially handed over to Rimac in the creation a new joint-venture between the French and Croatian brands that will initially see the pair continue on their current paths until the end of their respective projects before co-developing new products.
The deal will see a 55 per cent share of the Bugatti brand handed over to Rimac by Volkswagen Group with the remaining 45 per cent set to be transferred to Porsche, with the resulting organisation renamed from Rimac Automobili to Rimac Group.
Rimac Group will become the majority shareholder in a new subsidiary called Bugatti-Rimac and have total control over a second, independent unit called Rimac Technology that will continue the development of electric vehicle battery, driveline and autonomous driving systems that Rimac licenses to global car-makers.
Porsche – itself owned by VW Group – has a 24 per cent share in the newly formed Rimac Group and Hyundai owns 12 per cent. Rimac founder Mate Rimac remains the majority shareholder with 37 per cent and the remainder is held by a number smaller investors.
Mr Rimac will also be CEO of all three entities – Group, Bugatti-Rimac and Rimac Technology.
Despite its new owners, Bugatti will continue to produce the Chiron – including the new Super Sport – at its Molsheim factory while Rimac will continue developing and producing its new-age Nevera electric hypercar.
At the end of those model lines, both brands will be free to continue developing future models independently of one another as well as collaborate on new projects and innovations.
Porsche AG executive board chairman Oliver Blume said “combining the genes” of Bugatti and Rimac would form “an attractive automotive company”.
“We are combining Bugatti's strong expertise in the hypercar business with Rimac’s tremendous innovative strength in the highly promising field of electric mobility,” he said.
“Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base and a global dealer organisation to the joint venture.
“In addition to technology, Rimac is providing new development and organisational approaches.”
Mr Rimac was equally excited, describing the two brands as a “perfect match”.
“Both contribute important assets: we have established ourselves as an industry pioneer for electric technology, while Bugatti has more than a century of experience in the development of top-class cars and therefore brings with it an outstanding tradition that is practically unique in the history of the automotive industry,” he said.
“Together we will pool our knowledge, our technology and our assets with the goal of creating very special projects in the future.”
Once founded, the venture’s headquarters will be located in Zagreb, Croatia, with around 430 employees, of which some 300 will be based at HQ with the remaining 130 stationed in Molsheim.
The venture is expected by all parties to be finalised and operational by the end of the year.
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