Porsche has announced the creation of a company called Bugatti-Rimac.Headquartered in Sveta Nedelja (Croatia), its CEO will be Mate Rimac, the founder of Rimac Automobili.Porsche will appear as a strategic partner, owning 45 percent of the shares of the new company, while the remaining 55 percent remains in the hands of Rimac.
However, this Croatian company is, in turn, owned by different partners, including Porsche, who owns 24 percent of it. Mate Rimac owns 37 percent of the Rimac Group shares, while Hyundai owns 12 percent. The rest, 27, is in the hands of various investors.
Neither Porsche nor Rimac have provided the amount involved in the transaction of the shares that gave rise to the creation of Bugatti-Rimac.
Both brands, Bugatti and Rimac, will continue to work as independent brands, with their production centers in the first, Molsheim (France) and the second in Zagreb (Croatia), as well as different distribution channels. The jobs of these facilities are insured in the long term. The Bugatti-Rimac joint venture will start with some 435 employees. Of these, around 300 will be in Zagreb and another 135 in Molsheim.
Bugatti, since 1998 under the umbrella of Volkswagen
Bugatti’s current CEO, Stephan Winkelmann, has left his position at the company on October 31, 2021 to focus on his task as president of Lamborghini. “This merger is the perfect solution for everyone involved. Together we are building a powerful car company”, said Oliver Blume, Chairman of the Board of Directors of Porsche, who added that “we have succeeded in adding value to the prestigious and traditional Bugatti brand by making it more future-oriented. Bugatti is synonymous with style and passion; Rimac is an innovative firm with great technical experience. We want to thank Stephan Winkelmann for his exceptional contribution. He has done a great job.”
Volkswagen took over Bugatti in 1998and under its umbrella the Veyron and the Chiron were produced, both with the eight-litre W16. The last one will still be produced.
For its part, Rimac was founded in 2009 by Mate Rimac and, since its inception, has focused on the development and production of electric cars, also collaborating with firms such as Koenigsegg, Aston Martin, Pininfarina… Its most modern model is the Nevera, with four motors per wheel and a total of 1,941 CV, of which an equivalent version in Bugatti is not expected.
Bugatti-Rimac has its headquarters near Zagreb. The move to the new Rimac facility, currently being built at a cost of €200 million, is planned for 2023. This will also be the location of the Bugatti-Rimac joint research and development center. In a space of 2,500 square meters, 2,500 people will work.
“Together we will pool our knowledge, our technology and our assets with the aim of creating very special projects in the future”, said Mate Rimac.
