Bugatti And Rimac Officially Joining Forces, Will Jointly Develop Future Models

After months of rumors and speculation, Porsche has officially announced Bugatti and Rimac are joining forces.

As part of the deal, the companies are forming a new joint venture known as Bugatti-Rimac. It will be based in Zagreb, Croatia and is set to be established in the fourth quarter of this year.

While the deal needs to be approved by antitrust authorities in several countries, Rimac will be in control as they’ll have a 55% stake in the joint venture. Porsche will hold the remaining 45% stake, but it’s worth noting the company owns 24% of Rimac.

Also Read: Porsche Invests $83 Million In Rimac, Increases Its Stake To 24 Percent

Initially, not much will change as Bugatti will continue to produce the Chiron while Rimac will launch the Nevera. However, “Jointly developed Bugatti models are planned for the longer term.” Porsche went on to note Bugatti Automobiles S.A.S. will continue to exist and say that their models will be built in Molsheim, France as usual.

That being said, Bugatti will be playing second fiddle as Mate Rimac will be the CEO of the new joint venture.  Porsche is also set to play a key role as a “strategic partner” and CEO Oliver Blume will become a member of the Bugatti-Rimac Supervisory Board alongside Lutz Meschke, who is Porsche’s Deputy Chairman and Member of the Executive Board for Finance and IT.

In a statement, Mate Rimac said “Bugatti and Rimac are a perfect match for each other and both contribute important assets: we have established ourselves as an industry pioneer for electric technology, while Bugatti has more than a century of experience in the development of top-class cars and therefore brings with it an outstanding tradition that is practically unique in the history of the automotive industry. Together we will pool our knowledge, our technology and our assets with the goal of creating very special projects in the future.”

His sentiments were echoed by Blume, who said “We are combining Bugatti’s strong expertise in the hypercar business with Rimac’s tremendous innovative strength in the highly promising field of electric mobility. Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base and a global dealer organization to the joint venture” while “Rimac is providing new development and organizational approaches.”

In other news, Rimac is effectively splitting into two companies known as the Rimac Group and Rimac Technology.  The Rimac Group is the larger operation, while Rimac Technology will be 100% owned by the Rimac Group and focus on the “development, production and supply of battery systems, drivetrains and other EV components.”

Interestingly, the Hyundai Motor Group will be retaining their 12% stake in Rimac. Since the Rimac Group has a 55% stake in the Bugatti-Rimac joint venture, Hyundai and Bugatti can now be said in the same sentence without raising eyebrows.