On March 16, 2021, Herbert Diess, CEO of Volkswagen Group, confirmed that Volkswagen will transfer its supercar brand, Bugatti, to Porsche, which will form a joint venture with Croatian electric drive specialist Rimac. However, Diess denied previous reports that Volkswagen plans to sell the Bugatti brand.
According to Diess, Porsche is arranging the transfer of Bugatti and will then establish a joint venture with Rimac, which may jointly operate the Bugatti brand. The reason for transferring Bugatti is because the Volkswagen Group believes that Bugatti can achieve greater development under Porsche’s environment, rather than in Wolfsburg, which focuses on the Volkswagen market.
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It is worth noting that Diess said that Bugatti can spark more under Porsche’s environment, such as with carbon fiber and electrification. Just this month, Porsche announced that it has increased its stake in the Croatian supercar brand to 24%.
🔗Source: Volkswagen AG
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