For nearly a year, there have been rumors that Porsche would take over the French hypercar brand Bugatti from the Volkswagen Group. However, these rumors came true on July 5, 2021, yesterday.
With the issue of who will acquire Bugatti settled, Porsche also announced its plan to form a joint venture with Rimac. The joint venture company is named Bugatti-Rimac, with Porsche holding 45% of the equity and Rimac holding 55%. The headquarters will be located in Zagreb, Croatia, the home of Rimac.
In terms of personnel, Rimac’s founder and CEO Mate Rimac will serve as the CEO of the new joint venture company, and Porsche CEO Oliver Blume and executive board member Lutz Meschke will also serve as members of the new company’s supervisory board. The new company will have 430 employees, with 300 in Zagreb and 130 in Weissach.
Under the new joint venture umbrella, Rimac and Bugatti will produce the Rimac Nevera and the Bugatti Chiron, respectively. However, Bugatti Automobiles S.A.S., the main body of Bugatti, will continue to exist and continue production in Molsheim, France.
Porsche also stated that jointly developed Bugatti models are also planned for the future.
For more information about Rimac, the Croatian high-performance electric drive/supercar company in which Porsche holds a 24% stake, please read this article.
🔗 Information source: Porsche Newsroom
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