It’s an interesting pairing—an iconic luxury and racing brand that was founded in 1909, and an EV startup that was founded in a garage and invented the Croatian auto industry in 2009.
Rimac Automobili has officially combined with Bugatti Automobiles to form a new company called Bugatti Rimac. The two will continue to operate as separate brands, retaining their individual production facilities and distribution channels.
The Rimac Group, of which founder Mate Rimac retains a large ownership stake, will be the majority shareholder in Bugatti Rimac, with a 55% stake. Porsche will own 22%, and Hyundai Motor Group will own 11%. Rimac’s business supplying battery systems, drivetrains and other EV components to other automakers will be separated into a new entity, Rimac Technology, which will be 100% owned by the Rimac Group.
Porsche will “play a strong role in the joint company as a strategic partner,” and will appoint two managers and two Supervisory Board members. As CEO of Rimac Group, Mate Rimac will run both Bugatti Rimac and Rimac Technology.
Rimac has begun construction of a new 200,000-square-meter production facility near Zagreb, which is due to open in 2023. The Rimac Group has some 1,300 employees across its various locations.
“It’s difficult to find a better match than Rimac and Bugatti. What each party brings to the table in terms of technical expertise, know-how and automotive history makes for an electrifying recipe,” said Mate Rimac. “Rimac’s fast-paced operations and electrification skills are the perfect complement to Bugatti’s exceptional heritage and craftmanship. Stay tuned for some truly extraordinary projects in the future.”
Source: Bugatti Rimac