Bugatti changes ownership and officially operates under the joint venture of Porsche and Rimac.

On November 1, 2021, in Zagreb, Croatia, Mate Rimac, the founder of the pure electric supercar brand Rimac and the high-performance electric drive engineering research and development company, officially announced that “Bugatti Rimac,” a joint venture between Bugatti and Rimac Group, has started operating, with Rimac himself serving as the CEO of the new company. Over the past 10 years, Rimac, established by Mate Rimac, has been innovative, marking a short but rich entrepreneurial story. Bugatti, on the other hand, is an old-school supercar company with a 110-year history that has made many magnificent achievements in the supercar history, and is well known for its extreme design and mechanical configuration. The alliance between these two supercar companies was also supported by Porsche, which has abundant experience in the luxury brand and high-end model market operation.

The equity of the newly established company can be seen in the figure below. It is worth noting that based on the equity relationship and simple calculations, Porsche directly or indirectly holds more than 57% of the equity and has absolute control over the newly established company. In addition to the two executives, Porsche will also appoint two supervisory board members, Porsche CEO Oliver Blume and Porsche CFO and Vice President Lutz Meschke.

The new headquarters will be located in the Rimac campus, which covers an area of 200,000 square meters, with a capacity for 2,500 employees, and costs 2 million euros, and will be completed in 2023. Rimac Technology, an electric drive development company wholly owned by Rimac Group, will also be based here and will create 900 separate jobs.

Bugatti Rimac currently has 435 employees, 300 of whom will work in Zagreb, and the remaining 135 will work in Molsheim, France. In addition, the 180 Bugatti engineering team members in Wolfsburg will also support the new company.

🔗Source: Rimac

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.