Rimac To Merge With Bugatti
Electric hypercar manufacturer Rimac Automobili – which recently revealed the stunning Nevera – and iconic car brand Bugatti are to merge and create a new company called Bugatti Rimac.
The deal, announced at the beginning of July, will see the newly-formed Rimac Group be the major shareholder with a 55 per cent stake. Porsche – already shareholders in Rimac and part of the VW Group that owns Bugatti – will have a 45 per cent stake in Bugatti Rimac.
Rimac founder Mate Rimac will retain his original shareholding in Rimac Group at 37 per cent, with Porsche and Hyundai holding 24 per cent and 12 per cent respectively.
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 per cent owned by the Rimac Group. Rimac Technology will remain an independent company working with global car manufacturers.
Mate Rimac will lead the new company. As CEO of Rimac Group, he 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, while Bugatti Rimac will develop new vehicles for both brands.
“This is a truly exciting moment in the short, yet rapidly expanding history of Rimac Automobili,” said Mate Rimac in a statement.
“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.”
16 August 2021