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HomeTechnologyVW offloads Bugatti to Rimac to form new EV company Bugatti-Rimac

VW offloads Bugatti to Rimac to form new EV company Bugatti-Rimac

Croatian electric supercar company Rimac Automobili is taking over Bugatti. Rimac will control a 55% stake in the new firm, Bugatti-Rimac, with VW’s Porsche controlling the remainder of 45 percent, as per reports from Financial Times. Financial Times. “Rimac along with Bugatti are the perfect partners in terms of …

Croatian electric supercar company Rimac Automobili is taking over Bugatti. Rimac will hold a majority 55% stake in Bugatti-Rimac, the new company. Bugatti-Rimac with Volkswagen’s Porsche controlling the remainder of 45 percent, according to reports from The Financial Times.

“Rimac and Bugatti are a perfect match in terms of what we each bring to the table,” said the CEO and founder of Rimac, Mate Rimac, in an announcement. “As an innovative, young and fast-paced technology and automotive company we have established ourselves as a pioneer in the field of electric technology. With the Nevera we have shown that we can design and build exceptional hypercars that aren’t just quick but also fun and of high-quality. Bugatti has more than 100 years of expertise in engineering excellence is also home to one of the best traditions of any automobile company throughout history.”

The company just unveiled the Nevera hypercar that is powered by a 120kWh battery and four motors that produce an impressive 1.4MW of power. This equals around 1,914 horsepower. It can accelerate from 0-60 speed in 1.85 seconds and can reach an maximum speed of 258 miles per hour. The Nevera is predicted to rank as the world’s fastest car in the world, which was that was previously held by Bugatti Chiron’s.

Rimac’s rapid rise from a garage that he was bootstrapping in 2009 to developing supercars and joining an industry-leading brand that is sought-after and well-known brands of cars demonstrates how electric cars are beginning to rule the sports and luxury automobile market. It’s not only about being responsible for the environment but it’s also about creating speed and innovation for the future of cars.

With that announcement Rimac announced that it will divide the development, manufacturing and distribution of drivetrains, battery systems along with the other EV parts into a separate company owned by Rimac Group called Rimac Technology that will be working in conjunction with other automakers.

The Bugatti-Rimac merger doesn’t alter the structure of shareholders in Rimac Group. Mate Rimac will still have a 37% stake of Rimac Group, with Hyundai Motor Group holding 12% , and the rest of the investors holding 27% according to the announcement by the firm. Porsche recently increased their stake Rimac up from 15 percent to 24% however, its total ownership does not provide it with a majority stake in the new company, according to the companies’ statement to FT.

Mate Rimac will lead Bugatti-Rimac with its headquarters within Zagreb, Croatia. Bugatti’s manufacturing operations will remain located in Molsheim, France.

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