VW offloads Bugatti to Rimac Automobili to form new EV organization Bugatti-Rimac

Croatian electric supercar startup Rimac Automobili is taking over Bugatti. Rimac will possess a controlling 55% share in the new organization, Bugatti-Rimac, with VW’s Porsche owning the leftover 45%, as indicated by reports by the Financial Times.

“Rimac and Bugatti are a perfect match in terms of what we each bring to the table,” said founder and CEO of Rimac, Mate Rimac, in a statement. “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.”

The organization recently revealed the Nevera, a hypercar fueled by a 120kWh battery pack and four motors to accomplish an amazing 1.4MW of power, which is around 1,914 horsepower. It can go from 0 to 60 mph in 1.85 seconds and has a top speed of 258 mph. The Nevera is required to be the fastest sports car, a spot recently held by the Bugatti Chiron’s.

Rimac’s brilliant ascent from bootstrapping in a garage in 2009 to building supercars with one of the best and notable car brands demonstrates how electric vehicles are starting to take over the luxury and sports car market. It’s difficult about making the right decision for the climate – it’s tied in with spearheading speed in the future of automobiles.

Alongside this declaration, Rimac said it would separate the development, production and supply of battery systems, drivetrains and other EV components into a new entity owned by Rimac Group called Rimac Technology, which will work autonomously with other global car manufacturers.

The formation of Bugatti-Rimac doesn’t influence the shareholder structure within Rimac Group. Mate Rimac will keep on holding his 37% share in Rimac Group, with Hyundai Motor Group holding similar 12% and different investors at 27%, as indicated by a statement from the organization. Porsche recently increased its stake in Rimac from 15% to 24%, yet its complete ownership doesn’t give It a controlling interest in the new EV organization, the organizations told FT.

Mate Rimac will lead Bugatti-Rimac, which will be headquartered in Zagreb, Croatia. Bugatti’s manufacturing will stay in Molsheim, France.