VW offloads Bugatti to Rimac to form new EV company Bugatti-Rimac
“Rimac and Bugatti are a best match in regards to what we each give the table,” said creator and CEO of Rimac, Mate Rimac, in a declaration. “As a young, nimble and fast-paced vehicle and innovation company, we have developed ourselves as an industry pioneer in electric innovations. With the Nevera, we have actually also shown that we can develop and manufacture exceptional hypercars, that are not only fast but likewise interesting and premium. Bugatti, with over a century of experience in engineering quality, likewise has one of the most extraordinary heritage of any vehicle company in history.”
The formation of Bugatti-Rimac does not affect the investor structure within Rimac Group. Mate Rimac will continue to hold his 37% share in Rimac Group, with Hyundai Motor Group holding the same 12% and other investors at 27%, according to a statement from the company. Porsche recently upped its stake in Rimac from 15% to 24%, but its overall ownership does not offer It a managing interest in the brand-new EV business, the companies told FT.
The business just recently unveiled the Nevera, a hypercar powered by a 120kWh battery pack and four motors to attain a staggering 1.4 MW of power, which has to do with 1,914 horse power. It can go from 0 to 60 miles per hour in 1.85 seconds and has a top speed of 258 mph. The Nevera is expected to be the fastest cars, a spot previously held by the Bugatti Chiron’s.
Together with this statement, Rimac stated it would separate the development, production and supply of battery systems, drivetrains and other EV elements into a brand-new entity owned by Rimac Group called Rimac Technology, which will work individually with other worldwide car manufacturers.
“Rimac and Bugatti are an ideal match in terms of what we each bring to the table,” said creator and CEO of Rimac, Mate Rimac, in a declaration. Rimac’s meteoric increase from bootstrapping in a garage in 2009 to building supercars with one of the most well-known and desirable automobile brand names shows how electrical cars are beginning to take over the luxury and sports car market. The development of Bugatti-Rimac does not affect the investor structure within Rimac Group.
Croatian electric supercar startup Rimac Automobili is taking control of Bugatti. Rimac will own a managing 55% share in the brand-new business, Bugatti-Rimac, with VW’s Porsche owning the staying 45%, according to reports by the Financial Times.
Mate Rimac will lead Bugatti-Rimac, which will be headquartered in Zagreb, Croatia. Bugatti’s production will remain in Molsheim, France.
Rimac’s meteoric rise from bootstrapping in a garage in 2009 to building supercars with among the most popular and preferable cars and truck brands demonstrates how electric automobiles are starting to take over the luxury and cars market. It’s not almost doing what’s right for the environment– it’s about pioneering speed in the future of autos.