Porsche, Bugatti and Rimac are writing a new chapter in the history of the automotive industry. On 1 November, less than four months after it was first announced, one of the motoring world’s most exciting cooperation projects has started doing business under its new structure. The Bugatti Rimac joint venture will be based in Sveta Nedelja (Croatia). Its CEO will be electric hypercar pioneer Mate Rimac, founder and CEO of Rimac Automobili. Porsche AG will play a major role as strategic partner.
Porsche and Rimac have agreed to set up a joint venture that incorporates Bugatti. Oliver Blume and Mate Rimac have signed the corresponding agreements and announced the name of the new hypercar manufacturer: Bugatti-Rimac. The joint venture will have its headquarters in Zagreb (Croatia) and is scheduled to be established in the fourth quarter of 2021. This is subject to the prior approval of antitrust authorities in several countries. Rimac will hold a 55 per cent share in the Bugatti Rimac joint venture, while Porsche will have a 45 per cent share. Porsche also holds a 24 per cent share in Rimac directly. Bugatti will be brought into the joint venture by current owner Volkswagen. The shares will then be transferred to Porsche.