July 6th 2021
In June, we heard rumors of Bugatti and Rimac’s joint venture and now it’s endorsed. Bugatti, Rimac, and Porsche have joined to establish a new supercar company named Bugatti-Rimac. Its headquarters will be in Zagreb, Croatia, and it will start hiring workers before the end of this year.
In this joint venture, the Croatian car manufacturer keeps a 55 percent share in the Bugatti-Rimac company, whereas Porsche maintains 45 percent. In addition, Porsche also keeps 24 percent of Rimac directly after they made an $83 million investment in it at the start of this year.
In the first phase of Bugatti-Rimac, we will still find Bugatti creating the Chiron and Rimac building Nevara electric car. Chiron will yet be developed at the firm’s plant in Molsheim, France. Future plans include jointly-created vehicles – possibly hybrid or zero-emission.
“This joint venture is the provisional culmination of a strategic chain of investments,” says Lutz Meschke, member of the executive board. “We already purchased the first shares in Rimac in 2018 and have successively increased our shareholding since then. We established a close relationship with Mate and his extremely innovative team very early on.”
While this is mainly a Bugatti and Rimac joint venture, Porsche also plays a significant strategic part in it. Porsche CEO Oliver Blume and Deputy Chairman Lutz Meschke will act as Supervisory Board affiliates. In the meantime, Mate Rimac will take the role of Bugatti-Rimac’s CEO.
“This really is an exciting moment,” said Rimac. “Rimac Automobili has grown very quickly and the joint venture takes the company to a completely new level. Bugatti and Rimac are a perfect match for each other and both contribute important assets…. together we will pool our knowledge, our technologies, and our assets with the goal of creating very special projects in the future.”
Source and Images: Motor1