In addition, Rimac’s supercar division acquired Bugatti, which was separated from the Volkswagen Group. The majority of the recently established Bugatti Rimac is owned by Rimac, although Porsche, which is also controlled by Volkswagen and is the ultimate owner of the Rimac Group, owns 45% of Bugatti Rimac.
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Strong brand DNA is combined in the Bugatti-Rimac automobile.
It has been decided that Porsche and Rimac will create a joint venture that includes Bugatti.
The headquarters of Bugatti Rimac are in Sveta Nedelja, a town close to Zagreb. Moving to the new Rimac site, which will cost EUR200 million to construct, is scheduled for 2023. The combined R&D center for Bugatti Rimac will also be located here. On the 200,000 square meter property, around 2,500 people will be employed.
The factory in Molsheim will continue to produce all Bugatti models, safeguarding long-term employment at this location. About 435 people work for the Bugatti Rimac joint venture at first, 300 of whom are based in Zagreb and the remainder in Molsheim. The attractive Bugatti and Rimac brands are retained and strengthened by this positioning.
Bugatti is transferred by VW Group to a joint venture owned by Porsche and Rimac.
The Volkswagen Group has officially announced a partnership between its Bugatti hypercar brand and rapidly expanding Croatian electric-vehicle technology business Rimac, which has been rumored since last fall.
The VW Group division currently in charge of Bugatti and the owner of a 24% investment in Rimac, Porsche, will receive the remaining 45% of the new joint venture, which will be controlled by them both.
In the fourth quarter of 2021, the new joint venture will be officially founded as Bugatti Rimac, with its main offices to be located in Rimac’s sizable technological complex being built in Zagreb, Croatia. Mate Rimac, the founder and CEO of Rimac, will also serve as the joint venture’s CEO, in charge of roughly 430 staff members.
The Bugatti Rimac joint venture will bring together Rimac’s expertise in vehicle electrification and high-performance electric powertrains with Bugatti’s historical significance, superior craftsmanship, and lightweight construction talents.
Additionally, Rimac introduces fresh organizational and development methods, particularly in the field of software integration. In addition, Bugatti brings a seasoned global dealer network and a cutting-edge production facility in Molsheim, France. This year, Bugatti will set new sales records in North America thanks to its dealer network.
Beginning with the Bugatti Chiron and the recently unveiled Rimac Nevera, Bugatti Rimac will be in charge of designing automobiles for both the Bugatti and Rimac brands. Production of Bugatti will continue in France, while that of Rimac will continue in Croatia, where work will also be done on crucial components required by Bugatti.
Despite collaborating with an electric vehicle technology company, Bugatti won’t immediately give up on internal combustion engines. Within this decade, hybrid and all-electric cars are anticipated, with the first pure electric Bugatti probably coming in a second model line. Stephan Winkelmann, a former executive at Bugatti, has made hints about a crossover for the second model line.
Mate Rimac stated in a statement, “I have always liked automobiles and can see at Bugatti where enthusiasm for vehicles can take you to. I can’t even begin to express how thrilled I am by the prospect of these two brands fusing their respective expertise, technologies, and core principles to produce some truly unique projects in the future.
With a 37% ownership stake, Mate Rimac is Rimac’s largest shareholder. Porsche comes in second with a 24% stake, followed by Hyundai Motor Group with a 12% share. Smaller investors own the remaining 27%. Rimac is also establishing a Rimac Technology business, which will be in charge of licensing technology to other parties, in order to maintain some independence.
Together with Bugatti and Croatian electric vehicle manufacturer Rimac, Porsche will launch a hypercar firm.
Officials revealed on Monday that Porsche and Croatian electric performance car maker Rimac have decided to launch a joint venture that includes Volkswagen’s high-performance Bugatti brand.
In the fourth quarter of this year, the new joint venture, known as Bugatti-Rimac, is anticipated to become a manufacturer of hypercars (imagine a high-end sport vehicle or supercar with more performance and more exclusivity).
In the joint venture, Rimac will own 55% of the shares while Porsche will own 45%. According to the firms, Volkswagen, who owns Porsche and Bugatti, will transfer Bugatti’s shares to Porsche, who will then transfer them to Rimac. Additionally, Porsche now has a 24% investment in Rimac, up from a 10% position at the beginning of 2018.
The Bugatti Chiron, which has eight cylinders and 1,500 horsepower, and the Rimac Nevera, an all-electric hypercar that costs $2.4 million and has 1,900 horsepower and a top speed of almost 250 mph, are the first vehicles to come from the partnership. The firms had already made separate announcements about the automobiles.
In a statement, Porsche CEO Oliver Blume said, “We are combining Bugatti’s excellent competence in the hypercar sector with Rimac’s tremendous innovative strength in the highly promising field of electric mobility.
In a Monday conference call with the media, Blume referred to the new joint venture as a “great mix.”
Blume and Porsche CFO Lutz Meschke will join the Bugatti-Rimac board of directors. Mate Rimac, the founder of Rimac, will serve as CEO of the joint venture, the firms announced.
Mate Rimac, who started the business in his garage in 2009, said in a statement that the partnership is a “exciting moment” and that the two businesses are “a natural complement for each other.”
He told reporters on Monday, “I think we can do tremendous things. It’s a tremendous opportunity,
About 430 people are anticipated to work for Bugatti-Rimac. This comprises 130 in the Bugatti facility in Molsheim, France, and 300 at the company’s headquarters in Croatia, where Rimac is situated. All Bugatti models will continue to be made at the renowned factory, according to the firms.
Moving under the control of Porsche, Bugatti is planning a joint venture with Rimac.
- Herbert Diess, the CEO of Volkswagen, announced this week’s Power Day that Porsche will become a subsidiary of Bugatti under the VW Group.
- Porsche and hyper-EV expert Rimac are now negotiating a joint venture that would result in them building a Bugatti in the future.
- The Rimac C Two platform would be the logical choice, but more specifics won’t be provided right away.
Both the upper and lower echelons of the automotive industry are expected to change as a result of the trend toward widespread electrification. In our last article, we discussed conversations between the Volkswagen Group and Rimac regarding the future of Bugatti. VW apparently offered to give up control of its most prestigious brand in return for a larger financial stake in the Croatian hyper-EV manufacturer.
But since that didn’t occur, Porsche, which is ultimately owned by Volkswagen, spent more than $83 million last month to raise its current 15.5 percent share in Rimac to 24 percent. Herbert Diess, the CEO of Volkswagen, has now added some more pieces to the picture by revealing that Rimac and Porsche are in talks to form a joint venture to produce a future Bugatti product and that Bugatti will become a Porsche subsidiary.
For those who were following the Volkswagen Group’s online media conference earlier this week, Diess said, “Porsche is presently drafting a collaboration that’s going to be under discussion with Rimac, and Porsche will take care of it.” “Not everything has been resolved yet. We intend to transfer control of Bugatti to Porsche, and it’s likely that Porsche will partner with Rimac in a joint venture with a minority stake.”
Any such action would be quite logical given that even the most exotic automakers must prepare for the impending demise of internal combustion. With a remarkable 9.4-second quarter-mile pace, the Bugatti Chiron just proved to be the fastest vehicle we’ve ever tested. It continues to be a mechanical marvel. However, its W-16 quadruple-turbo engine will very certainly pass out alongside it. Last year, Bugatti CEO Stefan Winkelmann told C/D that, rather than developing a hybridized design, he believes Bugatti should just move to pure electric.
An easy approach to do that would be to modify the architecture of the Rimac C Two (seen above), an all-wheel-drive electric hypercar that is said to have 1888 horsepower and a top speed of 258 mph. This platform also serves as the foundation for the next Pininfarina Battista, indicating that it could serve as the foundation for a Bugatti model that is just as speedy as or even faster.
Anyone trying to stay on top of the internal power struggles at Volkswagen has been busy lately. With the recent transfer of Bentley management from Porsche to Audi, additional modifications appear likely. Winkelmann also serves as the CEO of Lamborghini, a company that is currently a part of the enormous group as an Audi subsidiary but which appears to have a more promising future away from what Diess referred to as the “volume sector” side.
No matter who owns the brand, future Bugatti models can be confidently predicted to continue to be both extremely expensive and quick.
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Who is the owner of Bugatti?
Volkswagen owns Bugatti, right? Yes, Volkswagen bought the business to give the brand fresh life. Beginning in 1999, Bugatti Automobile SAS was formally recognized as a Volkswagen subsidiary, and it was once again based in Alsace.
Bugatti Chiron’s owner?
Several tales about Indians who reside overseas and drive high-end vehicles, including SUVs, have been covered on our site. There are no modern-day Bugattis in India, despite the rumors that Bollywood stars own them. Many Indians are Bugatti Veyron owners. Despite the fact that there are numerous Indians who own Bugatti Veyrons worldwide, only one has a Bugatti Chiron in his garage. The only Indian in the world to own a Bugatti Chiron is Mayur Shree, who resides in the United States.
Real estate entrepreneur Mayur Shree is based in Texas, USA. A few years ago, Mayur Shree bought the Chiron. Although the precise cost of the Chiron is unknown, it is assumed to be somewhere in the range of Rs 21 crore. It will cost more for the buyer to install optional upgrades, so plan accordingly. Additionally, the one in the video has a distinctive paint job. One of Mayur’s most expensive vehicles in his garage is a Bugatti Chiron. The 8.0 liter, quad-turbocharged W16 engine that powers the Bugatti Chiron produces 1,479 Bhp of maximum power and 1,600 Nm of maximum torque. The fact that there are only 100 Bugatti Chirons in existence increases the car’s exclusivity or rarity on the road. The first Chiron to be delivered in Texas was the one that Mayur owned.
The Chiron is Mayur’s most expensive vehicle, as was already mentioned. Which additional vehicles does he operate?
Porsche owns Rimac, right?
With an emphasis on the electric and digital future of mobility, Porsche and Rimac are moving their partnership forward. The Croatian automotive technology company Rimac Group is holding a Series D investment round, and the sports car maker with headquarters in Stuttgart is taking part.
500 million euros ($536 million) in total were raised in the round, with Porsche contributing an eight-figure sum. The Deputy Chairman of the Executive Board of Porsche AG and Member of the Executive Board for Finance and IT, Lutz Meschke, expressed his excitement about Rimac’s acquisition of notable new investors and his optimism for the company’s future growth. We were already persuaded of the company’s potential in 2018, and we’re happy that our dedication allowed us to play a part in its development and current success. In 2018, Porsche made its initial investment in Rimac, and since then, its interest has grown. According to Lutz Meschke, “Rimac is continuing to extend its position in electromobility with additional investors on board, making it an even stronger partner for Porsche.”
Softbank Vision Fund 2 is in charge of the next fundraising round. Goldman Sachs Asset Management is another new investor from the banking industry. Porsche will continue to own about 20% of the Rimac Group after the purchase. Mate Rimac, the company’s founder and CEO, continues to be its largest stakeholder. “We are happy to have the support of important new and old investors who believe in our vision,” he says. “We have ambitious expansion plans for the future years.” We also want to thank the Porsche team, which has been supportive of us throughout our accomplishment and is still doing so. The Rimac Group intends to use the additional funds to increase production for large-scale projects. Additionally, it intends to hire 700 more people in 2022 alone.