A story that started as a rumor has now reached its climax. Croatian electric hypercar maker Rimac Automobili and Porsche have formalized a new joint venture company that includes Bugatti. The new company called Bugatti Rimac will be established in Q4 2021. Rimac will hold a majority stake of 55% in the joint venture, while 45% will be controlled by Porsche.
Bugatti will continue to operate from its historic headquarters in Molsheim, France. The joint venture will leverage the iconic brand’s expertise in manufacturing and its know-how in carbon fiber and other lightweight materials and small series production. Bugatti also brings to the table its global dealer network.
“We are combining Bugatti’s strong expertise in the hyper sports car business with Rimac’s tremendous innovative strength in the highly promising field of electric mobility. Bugatti is contributing a tradition-rich brand, iconic products, unique quality standards and craftsmanship, a loyal customer base and a global dealer network to the joint venture. In addition to technology, Rimac is contributing new development and organizational approaches,” Oliver Blume, Chairman of the Executive Board at Porsche AG.
Porsche holds a 24% share in Rimac Automobili – a company, which has established itself as an industry leader in electric technology. Besides providing technology solutions to some of the most renowned supercar and hypercar brands, Rimac has also developed its own electric hypercar – the Nevera.
“This is a truly exciting moment in the short, yet rapidly expanding history of Rimac Automobili and this new venture takes things to a completely new level. I have always loved cars and can see at Bugatti where passion for cars can take you to. I can’t begin to tell you how excited I am by the potential of these two brands combining knowledge, technologies and values to create some truly special projects in the future,” Mate Rimac, founder and CEO of Rimac Automobili.