Yesterday marked a very important occasion in automotive history as one of the most iconic car manufacturers joined forces with an electric startup. The case in consideration here is of Bugatti and Rimac. Bugatti has become a household name over the years and the major chunk of it has to with its long-lasting legacy of making some of the fastest cars this world has ever witnessed and on the other hand, there’s Rimac. The Croatian electric carmaker has time and again showed the world that it means business. Serious business.
More details
In this latest agreement, Rimac will own 55 percent of the new company, while Porsche will hold on to 45 percent of Bugatti after an internal transaction moving that ownership stake over from Volkswagen. In addition, Porsche will retain its 24 percent stake in Rimac itself.
The development, production and supply of battery systems, drivetrains and other EV components that Rimac is known for and trusted by many automotive manufacturers will be separated into 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.
Mate Rimac will lead the new company. As CEO of Rimac Group, he will run both Bugatti Rimac and the new division, Rimac Technology. Bugatti and Rimac will both continue as separate respective brands, retaining existing production facilities and distribution channels. Bugatti Rimac represents the company that will develop the future of both Bugatti and Rimac vehicles, by joining resources and expertise in research and development, production, and other areas.
Rimac Group will continue to innovate, creating both its own hypercars, as well as developing systems and technologies for many global OEMs. Such innovative technology can also be deployed in future Bugatti and Rimac models. Both brands will continue to operate independently, with Rimac Automobili retaining its current premises on the outskirts of Zagreb, Croatia and Bugatti production continuing in Molsheim, France.
Official statement
Commenting on today’s announcement, Mate Rimac, Founder and CEO of Rimac Automobili said, “This is a truly exciting moment in the short, yet rapidly expanding history of Rimac Automobili. We have gone through so much in such a short space of time, but this new venture takes things to a completely new level. Rimac and Bugatti are a perfect match in terms of what we each bring to the table. As a young, agile and fast-paced automotive and technology company, we have established ourselves as an industry pioneer in electric technologies. With the Nevera, we have also proven that we can develop and manufacture outstanding hypercars, that are not only fast but also exciting and high-quality. Bugatti, with over a century of experience in engineering excellence, also possesses one of the most exceptional heritage of any car company in history.”