Rimac Automobili and Bugatti Automobiles have announced the creation of new company, combining their expertise in design, innovation and technology. The new company is to be named Bugatti Rimac d.o.o. and led by Mate Rimac as Chief Executive Officer.
Rimac Group will be majority shareholder with 55% stake, with Porsche keeping the existing 24% shareholding in the Rimac Group and acquiring 45% stake in new company.
The development, production and supply of battery systems, drivetrains and other EV components that Rimac is known for will be separated into a new entity – Rimac Technology – which will be 100% owned by the Rimac Group.
Rimac Technology will remain an independent company working with many global car manufacturers.
Mate Rimac will run both Bugatti Rimac and the new division, Rimac Technology. Bugatti and Rimac will both continue as separate respective brands, retaining existing production facilities and distribution channels.
Mate Rimac, Founder and CEO of Rimac Automobili says: “This is a truly exciting moment in the short, yet rapidly expanding history of Rimac Automobili. We have gone through so much in such a short space of time, but this new venture takes things to a completely new level. Rimac and Bugatti are a perfect match in terms of what we each bring to the table. As a young, agile and fast-paced automotive and technology company, we have established ourselves as an industry pioneer in electric technologies. With the Nevera, we have also proven that we can develop and manufacture outstanding hypercars, that are not only fast, but also exciting and high-quality. Bugatti, with over a century of experience in engineering excellence, also possesses one of the most exceptional heritage of any car company in history.”
Oliver Blume, Chairman of the Executive Board at Porsche AG, adds: “We are combining Bugatti’s strong expertise in the hypercar business with Rimac’s tremendous innovative strength in the highly promising field of electromobility. Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base and a global dealer network to the joint venture. In addition to technology, Rimac is contributing new development and organisational approaches.”
Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG comments: “We bought the first shares in Rimac already three years ago and have successively increased them since then. This enabled us to build a close relationship with Mate and its highly innovative team at an early stage,” says Meschke. “Now we are benefiting from this. Rimac is helping us with its know-how to successfully lead an emotional and important Group brand into the future. I am very proud and happy that we have brought this joint venture to the finish line despite numerous challenges. Today is a good day for Bugatti, Porsche and the entire Volkswagen Group.”
Bugatti Rimac d.o.o. will be headquartered in Croatia and begin trading as a new combined entity from Q4 2021
Keyword: Rimac Automobili And Bugatti Automobiles Create New Company, Combining Expertise in Design, Innovation And Technology