Rimac takes control of Bugatti, creating Bugatti Rimac as a new company
Rimac the Croatian supercar company has announced that it was taking over Bugatti from Volkswagen to form a new company Bugatti Rimac.
The new company will be led by Mate Rimac who was the founder of RImac when he started as a one-man operation in 2009. Since then the Rimac has grown into a very popular car manufacturing company.
Various big names have made investments in startups to help build their own electric supercars.
Under this new deal, Rimac will own 55 percent stakes in the Bugatti while the rest of the stakes will be owned by VW’s Porsche brand. Bugatti is a 112 years old brand known to manufacture highly expensive supercars.
Rimac will now own both Bugatti Rimac and Rimac Technologies, which is an offshoot of the company focused on the development, production, and supply of battery systems and other EV components.
Bugatti and Rimac will both continue as separate respective brands, retaining existing production facilities and distribution channels. Bugatti Rimac represents the company that will develop the future of both Bugatti and Rimac vehicles, by joining resources and expertise in research and development, production, and other areas.
Both companies will retain their respective headquarters, but Rimac plans to eventually merge its workforce at the planned $200 million campus in Croatia, which is set to open in 2023.
Rimac said Bugatti would have an electric model this decade but would still produce hybrid models by the end of that period.