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Saturday, July 24, 2021

Bugatti and Rimac are Officially Partners

We can expect amazing things from the French hypercar company, Bugatti and electric upstart Rimac after they announced joining forces. Porsche, Rimac and Bugatti created a new hypercar venture called Bugatti-Rimac. This joint business venture, Bugatti-Rimac, established their headquarters in Zagreb, Croatia, planning to open towards at the end of the year. 

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Source: Porsche

The main partnership encompasses Bugatti and Rimac, but Porsche is an important strategic partner. Porsche CEO Oliver Blume and Deputy Chairman Lutz Meschke will both members of the Supervisory Board. Mate Rimac will act as the CEO of Bugatti-Rimac. Rimac commented, “This really is an exciting moment. Rimac Automobili has grown very quickly and the joint venture take the company to a completely new level. Bugatti and Rimac are a perfect match for each other and both contribute important assets…together we will pool our knowledge, our technologies and our assets with the goal of creating very special projects in the future.” The Rimac company is dedicated to developing and manufacturing era-defining hypercars with ground breaking technology. The company was only founded in 2009, so relatively in its infancy compared to Porsche and Bugatti. 

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Source: Porsche

Rimac, the Croatian engineering firm, holds a 55 percent share in the Bugatti-Rimac joint venture. Porsche not only owns 45 percent of the business venture, but now officially owns 24 percent of Rimac after investing $83 million in March. The plan for the joint venture is to introduce two vehicles, the Porsche W16-powered Chiron and the Rimac Nevera. Both will keep their names and remain produced in their current facilities. In the near future, more cars will join the plan, being hybrid or fully electric. Meschke said, “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 successfully increased our shareholding since then. We established a close relationship with Mate and his extremely innovative team very early on.” This new business venture is a perfect marriage to develop amazing new technology and vehicles. We can’t wait to see what this team brings to the table. 

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Source: Porsche

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