Croatian carmaker Rimac Automobili has said that German group Volkswagen, including the Porsche division – which owns a majority stake in Bugatti – plans to set up a new joint venture.
The new company will be called Bugatti-Rimac.
“Today we announce the creation of a new company. The best hyper-car company in the world – called Bugatti Rimac. This is a perfect fusion between Rimac Automobili’s fast electrification innovations and Bugatti’s 110-year legacy of design and craftsmanship. We divide the companies into two: Rimac Automobili, the initial limited liability company we founded 12 years ago, will become Rimac Group, which will be the majority shareholder of Bugatti Rimac with a 55% stake ”, said Rimac owner Mate Rimac.
Porsche will own 45% of Bugatti-Rimac, while Rimac Automobili will own the remaining 55% of the shares, according to Croatian media.
“In conclusion, let me say this, we combine the skills of Bugatti and Rimac. Their strengths complement each other perfectly. This is where one plus one is clearly equal to more than two. “, said Porsche Goup CEO Oliver Blume.
The financial details of the transaction were not published.
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