Porsche and Rimac are joining forces in a new joint venture to take control of Bugatti and create new models.
The rumors were therefore true. We had been talking about a possible partnership between Rimac and Bugatti for quite a while now. If the versions differed, while some evoked a resale of the firm by the Volkswagen group, we now know more. Remember, in September 2020, our German colleagues from Manager Magazin affirmed that Rimac and Bugatti were in the midst of negotiations with a view to a possible takeover, while an agreement would be in the process of being found. A few months later, at the beginning of June, it was the turn of the Croatian firm, founded in 2009, to be talked about again, claiming to be ready to take the next step and that two movements would be planned next year. . But in the end, it seems that things have greatly accelerated, as the news fell a few hours earlier: Bugatti will now be controlled by Rimac and Porsche.
Concretely, it’s a whole new joint-venture which has just been created between the two brands, as well as other companies, aiming to form an alliance as well as a merger between Rimac and Bugatti. This new entity will then be called Rimac Group and will be made up of the two aforementioned brands, as well as Rimac Technology. It is then owned 37% by Mate Rimac, founder of the eponymous firm, 24% by Porsche, 12% by Hyundai and 27% by a handful of various investors. Regarding this new alliance, Mate Rimac affirms that “ We have been through a lot in these 10 years already, but what just happened takes us to a whole new level. Rimac and Bugatti are two companies with different histories but which have a lot in common. We are both dedicated to excellence: on the one hand with exasperated research into technologies related to the electric car, on the other a brand with 110 years of history and cutting-edge production ».
A strategic alliance
For now, the creation of this joint venture should not change much, since Rimac will continue to produce its new Nevera, while Bugatti will still manufacture its Chiron. However, in its press release, the Molsheim firm stresses that “ Bugatti will make a significant contribution to Bugatti Rimac – not only through its craftsmanship and extensive know-how in the production and processing of carbon and other lightweight materials as well as in the production of small series, but also through its strong and unique network of dealer partners established around the world “. For its part, Rimac should bring its expertise around electrification, while the French firm plans to go zero-emissions in the years to come. It remains to be seen what the now allied brands foresee in the future, and whether a completely new model will end up seeing the light of day a little later.
The company’s headquarters will be based in Rimac Campus, which will open in 2023 in Croatia. With a surface area of 200,000 m3, this research and development center represents an investment of 200 million euros and will accommodate 300 employees.
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