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Electric startup Rimac and Bugatti are now one company

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Bugatti and Rimac officially join forces, and become Bugatti-Rimac. Thus, Porsche, Rimac and Bugatti created a new venture and hypercar called Bugatti-Rimac, which establishes its headquarters in Zagreb, Croatia, and will open its doors to employees at the end of the year.

With this change, the Croatian engineering firm now owns 55 percent of the shares in the Bugatti-Rimac joint venture, while Porsche owns 45 percent. In addition, the German construction company still owns 24 percent of Rimac directly after an $83 million investment in the company in March.

Last month, a report suggested that one of the world’s most iconic hypercar makers would join an electrical project, but now it’s official. Bugatti-Rimac will initially produce two vehicles as part of the new partnership: the current one with a W16 Chiron engine under the French brand, and the new electric Nevera with a Rimac emblem.

Electric startup Rimac and Bugatti are now one companyChiron will still continue to be produced at the company’s facilities in Molsheim, France. In the future, more co-developed cars will join the range – all likely hybrids or all-electric – but it’s unclear exactly where the company plans to produce these vehicles.

“This joint venture is the provisional culmination of a strategic investment chain,” says Lutz Meschke, partner in the executive management. “We already bought Rimac’s first shares in 2018 and have successively increased our shareholding since then. From the beginning, we established a close relationship with Mate and his extremely innovative team.”

While most of the partnership will involve Bugatti and Rimac, Porsche will play an important strategic role in the risk. Porsche CEO Oliver Blume and Vice President Lutz Meschke will both be members of the Supervisory Board. Meanwhile, Mate Rimac, 33, will serve as CEO of Bugatti-Rimac.

1625658662 945 Electric startup Rimac and Bugatti are now one company

“This is really an exciting time,” said Rimac. “Rimac Automobili has grown very quickly and the joint venture takes the company to a whole new level. Bugatti and Rimac are a perfect match for each other and both are important assets…. Together, we will bring together our knowledge, our technologies and our assets with the aim of creating very special projects in the future. “

Source: Engine1

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