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An important move in the automotive world has become official today: the Bugatti brand is taken over by Rimac Group, resulting in a joint venture called Bugatti-Rimac LLC, with 45% of shares owned by Porsche and 55% by Rimac.
The Croatian company Rimac, famous for the electric supercars it produces, will take control of the historic Bugatti brand in a joint venture with the Porsche brand. Bugatti, which is owned by the Volkswagen Group and produces the Chiron supercar, will take control of a new joint venture called Bugatti-Rimac.
Bugatti and Rimac join forces
It will be controlled by Porsche with 45% of the shares and Rimac Group with 55%. Porsche also owns 24% of Rimac shares. Under the umbrella of the newly created company, the two brands will continue to exist separately and the Bugatti Chiron and Rimac Nevera models will be produced. Bugatti Automobiles SAS will continue to exist in the joint venture, and Bugatti models will also be built at the plant in Molsheim, France.
Porsche brand president Oliver Blume and Porsche deputy chairman Lutz Meschke will be on the board of the new joint venture. The Porsche Group thus retains its influence within the Bugatti brand. Croatian Mate Rimac will be the CEO of the new joint venture. Mate Rimac is 33 years old.
In 2023, the new company will be based in the area of the Croatian city of Zagreb and will have approximately 2,500 employees. Now, the newly formed joint venture has 430 employees: 300 in Zagreb and 130 in Molsheim.
In the future, Bugatti will have access to electric technology patented by Rimac and it is possible to see a Bugatti hybrid supercar.
Via Porsche
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