Rimac, a Croatian-born electronics manufacturer, will control the Volkswagen’s Bugatti brand in a partnership that enhances their role as a automotive team.
The new company will be called Bugatti Rimac and will be led by Mate Rimac, the founder of a well-known group in 2009 in his car and has grown to become one of the most well-known brands in the industry.
The company’s electric and batteries ranged from Aston Martin and Pininfarina to Jaguar, as well as VW’s Seat brand running arm.
Supervised by an electrician is also a major exit for Bugatti, which sells its hypercars on 16-cylinder machines and color tires.
However, the advent of battery technology has brought speed to the point that even the hottest cars are struggling to keep up: the upcoming Rimac Nevera is expected to be the fastest brand ever, the name formerly Bugatti Chiron.
Rimac said Bugatti will have an electric hybrid over the next decade but will also produce hybrid varieties by the end of that period. “We can have two identical, very different product lines,” said Rimac, comparing Bugatti with a Swiss watch as well as Rimac and the Apple Watch.
Under a deal announced Monday, Rimac, which is backed by Porsche and Hyundai, will own 55% of the new company, while VW’s Porsche brand is the only one left.
This means that Porsche will control 58.2% of the final companies through its subsidiaries in Rimac if its Rimac share is incorporated, although the companies said the car manufacturer has no say in these mergers. No changes have been made to the club, Porsche boss Oliver Blume said on Monday.
It also brings Rimac beyond the VW umbrella as the German company begins to push for € 35bn, even though the Croatian company is launching its own technology business.
Both Bugatti and Rimac continue to make their trade, and while Bugatti’s products remain in France, all of its research has gone to Rimac’s headquarters in Croatia.
Mate Rimac, 32, owns 37 companies, accounting for 20.4% of the new Bugatti Rimac.
“Rimac and Bugatti are the perfect match for what we all bring to the table. As a small, fast and efficient automotive and technology company, we have established ourselves as experts in the electronics industry, ”he said.
He added that the hypercar business “should be sustainable and profitable in itself”.
As of Monday, Porsche’s Daimler partner confirmed that it will include three major brands – AMG, G-Class and Maybach – in one business group this fall, in order to position itself in the “best sector and performance”.
Porsche’s idea of putting Bugatti in the alliance will raise hopes among VW retailers that similar products, which are not in line with the company’s efforts to drive the digital revolution, will be modified or sold.
Last December, following a dispute between VW’s boss Herbert Diess and German corporations, the company’s management said there was “an agreement between them that Lamborghini and Ducati remain members of the Volkswagen Group”.
In May, Volkswagen rejected a offer of 7.5bn euros for a Lamborghini from a Swiss-powered car led by Rea Stark, who also initiated an electric start with Toni Piech, the daughter of a former VW chair.
But pressure from corporate markets to distribute these products has been growing. “The message is ‘forget the toys’,” said one well-versed VW negotiator.
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