Porsche and Rimac to take over Bugatti

bugatti-rimac

In a recent press release, German high-performance automobile maker Porsche and Croatian EV hypercar manufacturer Rimac Automobili announced their plans to establish a new joint venture that will allow both brands to take over Bugatti.

“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. Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base, and a global dealer organization to the joint venture. In addition to technology, Rimac is providing new development and organizational approaches,” said Porsche AG Chairman of the Executive Board Oliver Blume.

The Volkswagen Group — Porsche’s parent company and current owner of the Bugatti brand — has transferred its shares to Porsche. Under the new joint venture, Porsche — who owns a stake in Rimac — will get a 45-percent share while Rimac Automobili will have a 55-percent share of Bugatti.

The new company will be called Bugatti-Rimac.

bugatti-rimac-2

“This joint venture is the provisional culmination of a strategic chain of investments. 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. We are now benefiting from that. Thanks to its know-how, Rimac will now help us to successfully lead an emotive and important brand into the future. I am very proud and delighted that we have brought this joint venture to fruition in spite of many challenges. Today is a good day for Bugatti and Rimac, Porsche, and also for the Volkswagen Group,” commented Porsche AG Deputy Chairman and Member of the Executive Board for Finance and IT Lutz Meschke.

This complex shuffling of ownership is said to take place in the fourth quarter of 2021.

“This really is an exciting moment. 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: 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. Together we will pool our knowledge, our technology, and our assets with the goal of creating very special projects in the future,” said Rimac Automobili Founder and CEO Mate Rimac.

Bugatti-Rimac will initially produce two hypercar models: the Bugatti Chiron and the all-electric Rimac Nevera. Manufacturing of the aforementioned vehicles will most likely take place at the Bugatti Automobiles SAS headquarters in Molsheim, France.

bugatti-rimac-1

According to Bugatti, the brand will remain in this historic facility where the French automobile company was founded in 1909.

Porsche says that both Blume and Meschke will become members of Bugatti-Rimac’s Supervisory Board while Mate Rimac will be the CEO of the joint venture.

The new joint venture is scheduled to be carried out later this year and will have approximately 430 employees. Around 300 will be stationed at Bugatti-Rimac’s headquarters in Zagreb while the remaining 130 will work at Molsheim.

Photos from Bugatti and Porsche

Also read: 

Porsche reveals details on 2022 Porsche Cayenne Turbo GT

These bespoke bags from Bugatti are the epitome of portable luxury

WATCH: Porsche 911 GT2 RS sets new lap record at Nordschleife

Read All

Featured Articles

Recommended Articles For You

Read All

Featured Cars

  • Upcoming

Car Articles From Zigwheels

  • News
  • Article Feature
  • Advisory Stories
  • Road Test
  • ACMobility guarantees worry-free electrified mobility EV models, charging hubs
    ACMobility guarantees worry-free electrified mobility EV models, charging hubs
    Ruben Manahan IV . Today
  • LTO announces DL renewal schedule, to commence after Holy Week
    LTO announces DL renewal schedule, to commence after Holy Week
    Paulo Papa . Today
  • GAC Motor PH to reveal Emkoo Hybrid
    GAC Motor PH to reveal Emkoo Hybrid
    Ruben Manahan IV . Mar 27, 2024
  • Toyota PH offers emergency roadside assistance for Lenten season anew
    Toyota PH offers emergency roadside assistance for Lenten season anew
    Paulo Papa . Mar 27, 2024
  • Honda Cars PH reactivates HEAT for Holy Week
    Honda Cars PH reactivates HEAT for Holy Week
    Paulo Papa . Mar 27, 2024
  • Brembo: an ideal choice for discerning Filipino car owners
    Brembo: an ideal choice for discerning Filipino car owners
    Paulo Papa . Mar 26, 2024
  • Flyweight feud: Suzuki S-Presso AGS vs. Honda Brio V CVT
    Flyweight feud: Suzuki S-Presso AGS vs. Honda Brio V CVT
    Paulo Papa . Mar 20, 2024
  • Cabin check: What’s inside the BYD Atto 3
    Cabin check: What’s inside the BYD Atto 3
    Paulo Papa . Mar 19, 2024
  • Midsize SUV battle: Hyundai Santa Fe vs. Ford Everest
    Midsize SUV battle: Hyundai Santa Fe vs. Ford Everest
    Paulo Papa . Mar 14, 2024
  • Hyundai Santa Fe: 6 seductive colors
    Hyundai Santa Fe: 6 seductive colors
    Paulo Papa . Mar 12, 2024
  • Here are some ideal destinations and safety tips for the upcoming Holy Week
    Here are some ideal destinations and safety tips for the upcoming Holy Week
    Paulo Papa . Mar 08, 2024
  • Here are some New Year’s resolutions for car owners
    Here are some New Year’s resolutions for car owners
    Paulo Papa . Jan 03, 2024
  • PH auto market: 2023 in retrospect
    PH auto market: 2023 in retrospect
    Paulo Papa . Dec 15, 2023
  • Here’s a holiday gift guide for car enthusiasts
    Here’s a holiday gift guide for car enthusiasts
    Hazel Nicole Carreon . Dec 15, 2023
  • Oil players cut pump prices anew
    Oil players cut pump prices anew
    Paulo Papa . Nov 14, 2023
  • First look: JMC Grand Avenue
    First look: JMC Grand Avenue
    Paulo Papa . Mar 27, 2024
  • Above average: Toyota Raize G
    Above average: Toyota Raize G
    Paulo Papa . Mar 22, 2024
  • BYD Atto 3: from the metro to the mountains
    BYD Atto 3: from the metro to the mountains
    Paulo Papa . Mar 18, 2024
  • Late bloomer: Hyundai Stargazer GLS Premium
    Late bloomer: Hyundai Stargazer GLS Premium
    Ruben Manahan IV . Mar 08, 2024
  • Adventure-ready: Subaru Crosstrek
    Adventure-ready: Subaru Crosstrek
    Paulo Papa . Mar 01, 2024