Bugatti & Rimac partners to form new venture
Rimac Automobili announces a major milestone in its history as it has entered into the partnership with the iconic automotive brand, Bugatti Automobiles to form a new automotive and technological powerhouse. As per the partnership, the newly-formed Rimac Group will be the major shareholder with a 55% stake. Mate Rimac will retain his original shareholding in Rimac Group at 37%, with Porsche at 24%, Hyundai Motor Group doing the same at 12% and other investors at 27%. Let us read in more detail about the Bugatti & Rimac partners for a new venture.
The Rimac will be separated into a new entity called Rimac Technology for its development, production and supply of battery systems, drivetrains and other EV components and will be 100% owned by the Rimac Group. According to the company’s press release, the Mate Rimac will lead the new company. As CEO of Rimac Group will run both Bugatti Rimac and the new division, Rimac Technology.
Both the brands Bugatti and Rimac will continue as separate respective brands retaining existing production facilities and distribution channels. Bugatti Rimac will represent the company that will develop the future of both Bugatti and Rimac vehicles. Rimac Group will continue creating its own innovative hypercars and will also work on developing systems and technologies for many global OEMs. Both the companies will operate independently, Rimac in its current premises on the outskirts of Zagreb, Croatia and Bugatti production continuing in Molsheim, France.
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 is 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.”
“We have just launched our latest hypercar, the Nevera to universal global acclaim. So I can’t begin to tell you how excited I am by the potential of these two incredible brands combining knowledge, technologies and values to create some truly special projects in the future.”
Oliver Blume, Chairman of the Executive Board at Porsche AG: “We are combining Bugatti’s strong expertise in the hypercar business with Rimac’s tremendous innovative strength in the highly promising field of electromobility. Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base and a global dealer network to the joint venture. In addition to technology, Rimac is contributing new development and organisational approaches.”
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