Croatian EV maker and hypercar firm Bugatti have announced the creation of a new company that will enable the firms to develop hypercars for the next generation.
Rimac was only established a decade ago, but has quickly earned itself a frontrunner position when it comes to performance electric cars. Porsche has already invested heavily in the firm and will continue to have a large portion of shares as hypercar firm Bugatti is offloaded by the Volkswagen Group to Rimac.
As part of the new venture, the newly-formed Rimac Group will be the major shareholder of Rimac-Bugatti, with a 55 per cent stake. Porsche will hold the other 45 per cent share.
Rimac’s founder Mate Rimac will be the CEO of the new firm, with Porsche’s chairman Oliver Blume acting as a supervisory board member.
Both Rimac and Bugatti will remain as separate brands, with Rimac models set to continue being built in Croatia and Bugattis in Molsheim, France. However, from 2023, the headquarters for both will be Zagreb, Croatia.
In the meantime the firms will continue with their own models, with Rimac just launching the Nevera as its new flagship hypercar, while Bugatti will continue with its Chiron for the next few years.
Mate Rimac, founder and CEO of Rimac Automobili, said, “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.
“We have just launched our latest hypercar – the Nevera – to universal global acclaim. So I can’t begin to tell you how excited I am by the potential of these two incredible brands combining knowledge, technologies and values to create some truly special projects in the future.”