Rimac and Bugatti join forces in new venture
Croatian electric hypercar company, Rimac Automobili announces another major milestone in its history, as it combines forces with the automotive brand, Bugatti Automobiles, to create a new automotive and technological powerhouse.
It has taken the company just 10 years to go from a one-man garage start-up to announcing a new company together with car brand of this caliber and create Bugatti Rimac d.o.o. As part of the deal, the newly-formed Rimac Group will be the major shareholder with a 55% stake. Mate Rimac will retain his original shareholding in Rimac Group at 37%, with Porsche at 24%, Hyundai Motor Group doing the same at 12% and other investors at 27%, a press release reads. The development, production and supply of battery systems, drivetrains and other EV components that Rimac will be separated into a new entity – Rimac Technology, which will be 100% owned by the Rimac Group. Rimac Technology will remain an independent company working with many global car manufacturers. Mate Rimac will lead the new company. As CEO of Rimac Group, he will run both Bugatti Rimac and the new division, Rimac Technology. Bugatti and Rimac will both continue as separate brands, retaining existing production facilities and distribution channels. "Bugatti Rimac represents the company that will develop the future of both Bugatti and Rimac vehicles, by joining resources and expertise in research and development, production, and other areas," the press release reads. Both brands will, as stated ealier, continue to operate independently, with Rimac Automobili retaining its current premises on the outskirts of Zagreb, Croatia and Bugatti production continuing in Molsheim, France. In time, Bugatti Rimac’s global headquarters will be situated at the recently announced Rimac Campus, also serving as the home of Rimac Technology. The EUR 200 million, 100,000 square metre campus, due to open in 2023, will be the base for all research and development of future Rimac and Bugatti hypercars. “This is a truly exciting moment in the short, yet rapidly expanding history of Rimac Automobili. We have gone through so much in such a short space of time, but this new venture takes things to a completely new level. Rimac and Bugatti are a perfect match in terms of what we each bring to the table. As a young, agile and fast-paced automotive and technology company, we have established ourselves as an industry pioneer in electric technologies. With the Nevera, we have also proven that we can develop and manufacture outstanding hypercars, that are not only fast but also exciting and high-quality. Bugatti, with over a century of experience in engineering excellence, also possesses one of the most exceptional heritage of any car company in history,” says Mate Rimac, Founder and CEO of Rimac Automobili in the press release.