Rimac takes over Bugatti from Volkswagen, forms Bugatti-Rimac

Porsche and Rimac have agreed to set up a joint venture that incorporates Bugatti, and announced the name Bugatti-Rimac.

Rimac Automobili will hold a 55 percent share in the Bugatti-Rimac joint venture, while Porsche AG will have a 45 percent share that is transferred from Volkswagen AG. Porsche AG also holds a 24 per cent share in Rimac Automobili directly.

The joint venture will have its headquarters in Zagreb, Croatia and is scheduled to be established in the fourth quarter of 2021, subject to approval from authorities.

Oliver Blume, Chairman of the Executive Board at Porsche AG, 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 organisation to the joint venture. In addition to technology, Rimac is providing new development and organisational approaches.”

Under Bugatti-Rimac, two models will be produced initially – Bugatti Chiron and Rimac Nevera. Bugatti Automobiles S.A.S. will continue to exist in the new joint venture and Bugatti models will still be produced at the factory in Molsheim, France.

The official statement also mentioned that jointly developed Bugatti models are planned for the longer term. This could hint at a full-EV Bugatti, perhaps a four-seater EV hypercar?

Mate Rimac, founder and CEO of Rimac, said, “This really is an exciting moment. Rimac Automobili has grown very quickly and the joint venture takes the company to a completely new level.

"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.”

Porsche is said to play a strong role in the joint venture as a strategic partner. Oliver Blume and Lutz Meschke (Deputy Chairman and Member of the Executive Board for Finance and IT at Porsche AG) will become members of the Supervisory Board at Bugatti-Rimac. Meanwhile, Mate Rimac will be the CEO of the joint venture.