VW gives up Bugatti: Porsche, Bugatti & Rimac set up joint venture!

Porsche and Rimac Automobili today finalized their plans for a new joint venture between Bugatti and Rimac under the name Bugatti Rimac. The CEOs of both brands, Oliver Blume and Mate Rimac, have signed the relevant contracts for this. They provide for shares of 55 percent for Rimac Automobili and 45 percent for Porsche. The official go-ahead for the joint venture is planned for the fourth quarter of 2021, subject to the approval of the antitrust authorities in some countries. Bugatti is brought into the joint venture by its current owner, Volkswagen. The shares will then be transferred to Porsche. The new company Bugatti Rimac will combine the genes of both strong brands. Together they will form a fascinating hyper sports car manufacturer - equally attractive for customers and employees.

Porsche, Bugatti & Rimac

Bugatti Automobiles SAS will remain at its historic headquarters in Molsheim (France), where the company was founded in 1909. Bugatti has always been at the forefront of the automotive industry and has often exceeded the dreams of its customers and fans around the world. With its long tradition and experience, Bugatti will make a significant contribution to the success of Bugatti Rimac - not only with its craftsmanship and extensive know-how in the manufacture and processing of carbon and other lightweight materials as well as small series production, but also with its global and established Dealer network.

Porsche and Rimac Automobili are the perfect partners to accompany Bugatti on its future path. Porsche entered into a successful partnership with Rimac Automobili as early as 2018 and has gradually increased its stake in the young, agile and fast-growing automotive and technology company from Croatia. Today Porsche holds a 24 percent share in Rimac Automobili. Porsche itself is known as the leading sports car manufacturer from Stuttgart and has distinguished itself as the most profitable company in the Volkswagen Group. Rimac Automobili, on the other hand, is considered an industry pioneer in electrical technologies, both as a technology supplier and, with the recently launched new Rimac Nevera, as a manufacturer of fully electric hyper sports cars.

Oliver Blume, CEO of Porsche AG, said: “We are combining Bugatti's strong know-how in the hyper sports car segment with Rimac's enormous innovative strength in the promising field of electromobility. Bugatti brings a traditional brand, iconic products, unique quality standards and craftsmanship as well as a loyal customer base and a global dealer network to the joint venture, Rimac brings new development and organizational concepts in addition to the technology itself. "

Mate Rimac, Founder and CEO of Rimac Automobili: “This is a truly exciting moment in the short but rapidly evolving history of Rimac Automobili and this new joint venture opens up completely new opportunities. I've always loved cars and at Bugatti I can see where such an automotive passion can lead. I can't tell you how excited I am about the potential that will arise from combining the knowledge, technologies and values ​​of both brands. This will enable us to create really extraordinary projects. "

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