Porsche and a Croatian car manufacturer Rimac Automobili are establishing a new joint venture including Bugatti, named Bugatti Rimac. The two companies‘ CEOs Oliver Blume and Mate Rimac signed the contracts, setting the share split in Bugatti Rimac with 55 percent being held by Rimac Automobili and 45 percent by Porsche. The establishment of the joint company will take place in the fourth quarter of 2021. Bugatti will be brought into the joint company by current owner Volkswagen and the shares will then be transferred to Porsche.
Bugatti Automobiles S.A.S. will remain at its historic headquarters in Molsheim, France, where it was founded in 1909. The French automaker is a strong contributor to the new company, bringing in all of its expertise in manufacture and craftsmanship, carbon fiber and other lightweight materials, small series production, as well as an unique and experienced network of worldwide dealership partners.
We are combining Bugatti’s strong expertise in the hyper sports car business with Rimac’s tremendous innovative strength in the highly promising field of electric mobility. Bugatti is contributing a tradition-rich brand, iconic products, unique quality standards and craftsmanship, a loyal customer base and a global dealer network to the joint venture. In addition to technology, Rimac is contributing new development and organizational approaches. – Oliver Blume, Chairman of the Executive Board at Porsche AG
This is a truly exciting moment in the short, yet rapidly expanding history of Rimac Automobili and this new venture takes things to a completely new level. I have always loved cars and can see at Bugatti where passion for cars can take you to. I can’t begin to tell you how excited I am by the potential of these two brands combining knowledge, technologies and values to create some truly special projects in the future. – Mate Rimac, founder and CEO
Porsche and Croatian electric supercar specialist are the perfect partners to accompany Bugatti into the future. Porsche entered into a fruitful partnership with the electric supercar maker as early as 2018. Today, Porsche holds a 24 percent share in Rimac Automobili.