Rimac, an electric hypercar company, has acquired Volkswagen’s supercar brand Bugatti as part of a joint venture with Porsche (which VW owns). As part of the new company, Bugatti Rimac, they will combine resources and expertise while keeping separate brands with their own production and distribution setups.
Once the joint venture is up and running, which is expected later this year, Bugatti will be able to leverage Rimac’s EV know-how and possibly carry on the company’s tradition of producing electric vehicles.
Meanwhile, Rimac can benefit from Bugatti’s expertise, which produces the world’s second-fastest street-legal car, the Bugatti Veyron.
Rimac will own 55% of Bugatti Rimac, while Porsche will own the rest. Porsche directly owns 24 percent of Rimac as of March, following an initial investment for a 10% stake in 2018.
Meanwhile, the Rimac Group is establishing Rimac Technology to manage “the development, production, and supply of battery systems, drivetrains, and other EV components.”
Bugatti Rimac will have its headquarters in Zagreb, Croatia, where Rimac is based. Rimac Campus, worth 200 million euros ($237.3 million), is set to debut in 2023 and will serve as a research and development hub for both Rimac and Bugatti hypercars.
Oliver Blume, Porsche CEO, said in the statement, “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 organizational approaches.”