bne IntelliNews – Croatian electric hypercar pioneer Rimac joins forces with Bugatti
Croatian electric supercar producer Rimac Automobili announced on November 2 that it had launched a joint venture with Bugatti Automobiles, Bugatti Rimac.
The Bugatti brand was founded in 1909 by Italian-born industrial designer Ettore Bugatti, whose cars rose to fame thanks to their racing victories in the 1920s, winning the very first Monaco Grand Prix. The death of the founders and the destruction of its factory in Alsace during World War II ultimately led to Bugatti’s activities being shut down, until the brand was relaunched by Volkswagen in 1998. Rimac Automobili, on the other hand, has burst onto the automotive scene when it was created. by the young Croatian entrepreneur Mate Rimac, who started by converting his BMW to run on electricity in his family’s garage.
“Rimac’s distinctive agility, its technical expertise and its relentless innovation in [electric vehicle] The EV sphere, along with Bugatti’s 110-year design and engineering heritage of some of the world’s most iconic hypercars, are now combined into the world’s leading hypercar company, ”a press release said. joint.
German sports car maker Porsche, which is part of the Volkswagen Group, is in talks with Rimac over a joint venture that will run the Bugatti supercar brand for months.
The Rimac Group will be the main shareholder of Bugatti Rimac with a 55% stake. Mate Rimac will keep its stake in Rimac Group at 35%, with Porsche at 22%, Hyundai Motor Group at 11% and the other investors at 32%.
“I am honored to lead this new fusion of automotive spirits and to begin what will undoubtedly be a successful, revolutionary and exciting new chapter for all involved. I am also extremely curious to see the profound impact Bugatti Rimac will have on the industry, and I look forward to developing new hypercars and innovative technologies, ”Rimac said in a press release.
The development, production and supply of battery systems, transmissions and other electric vehicle (EV) components will be separated in a new entity, Rimac Technology, which will be 100% owned by the Rimac group. Rimac Technology will remain an independent company working with many global car manufacturers.
The Bugatti Rimac company will be managed by Rimac. He will also lead the company Rimac Technology.
Bugatti and Rimac Automobili will both continue as separate brands, retaining existing production facilities and distribution channels.
Porsche will play an important role in the joint venture as a strategic partner and will have two directors and two members of the supervisory board.
Bugatti Rimac’s global headquarters will be located at the current Rimac base on the outskirts of Zagreb, Croatia, but over time it will grow to the recently announced € 200 million Rimac campus, which is slated to open in 2023.