Porsche, Rimac and Bugatti agree to establish a joint venture
On July 5, 2021, as the title suggests, Porsche and Rimac announced that they had agreed to establish a joint venture with Bugatti. * Prior approval from antitrust authorities in some countries is still required.
The name of the new company will be "Bugatti-Rimac", and the establishment date is scheduled for Q4 2021. The headquarters is located in Zagreb, Croatia.
Rimac holds the stake in the joint venture 55%, and Porsche holds the remaining 45%. In addition, Porsche also holds a direct stake in Rimac, 24%.
PorscheFormed a partnership with Rimac three years agoSince then, he bought his first stake in Rimac in 2018 and has continued to increase his stake ever since, building a good relationship with Rimac's CEO and his team.
Bugatti Rimac President is Mr. Matrimak
The CEO of the new company is Rimac's CEO, Mate Rimac. The number of employees at the time of establishment of the new company was about 430 (300 at the head office and 130 at the Bugatti base in France).
Porsche will play a key role in the new joint venture as a strategic partner, with Porsche AG CEO Oliver Blume and Porsche AG Treasury / IT Executive Officer Lutz Meschke. He will be a member of the Audit Officer of the company Bugatti Rimac.
Bugatti will be brought to the joint venture by its current owner, Volkswagen, after which the shares will be transferred to Porsche.
Porsche says the new company will be a very attractive car company by combining the genes of two powerful brands, Bugatti and Rimac, Oliver Blume said.
"Bugatti offers traditional brands, iconic products, a royal customer base, a global dealership, and Rimac offers new technologies, further development and an organizational approach to new companies."
It is said that it will be a company that combines Bugatti's strong expertise in the hypercar business with its tremendous strength in the highly promising field of electrical mobility.
Models produced by Bugatti Rimac
The new company will first produce the following two models:
- Bugatti Chiron
- Rimac Nevera, a full-electric vehicle
The Bugatti Automobile SAS will continue to exist in the new joint venture, and the Bugatti model will continue to be produced at the Bugatti plant in Molsheim, France.
If you are interested in the details, here is a video of the announcement of the Bugatti Rimac establishment agreement (about 28 minutes).
Source:(Official) Bugatti-Rimac combines the genes of strong brands
I'm Rika, the author of this article. Ever since Porsche 911 became my favorite car, I've become totally addicted to Porsche, and I can't stop loving Porsche, so I started this blog. My favorite cars are 911 Carrera (991.2), 911 Carrera Cabriolet (992.1), and 911 Carrera T (992.1).
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