While the Volkswagen Group is unwilling to sell off Lamborghini (which is in the group via Audi), it has divested its stake in Bugatti and Croatian carmaker Rimac Automobili is taking a controlling stake in the French supercar company. However, rather than referring to it as an acquisition, it is described as ‘combining forces’ since the move will see the creation of a new company known as Bugatti Rimac.
Porsche and Hyundai shareholders as well
As part of the deal, the restructured Rimac Group will be the major shareholder with a 55% stake. Mate Rimac, the founder, will retain his original 37% shareholding in the Rimac Group with Porsche holding 24%, the Hyundai Motor Group having 12% and the remainder of 27% held by other investors.
Rimac’s business of development, production and supply of battery systems, drivetrains and other electric vehicle (EV) components will be handled by Rimac Technology, a newly formed company which will be fully owned by the Rimac Group. Rimac Technology will remain an independent company working with other global carmakers.
Founded in 2009 as one-man garage
Rimac Automobili is a rather young company in the industry, having started in 2009 from a one-man garage. In that short period, his company has grown at ever-increasing speed, specializing in EVs and becoming a consultant for some companies wanting to develop such vehicles but preferring to let a more focussed outfit handle the work.
As CEO of the Rimac Group, 33-year old Mate Rimac will lead the new company and run both Bugatti Rimac and Rimac Technology. Bugatti and Rimac will both continue as separate respective brands, retaining existing production facilities and distribution channels. Bugatti Rimac will develop the future of both Bugatti and Rimac vehicles by joining resources and expertise in R&D, production and other areas.
Going to a new level
Commenting on the development, Rimac said: “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.”
“We have just launched our latest hypercar – the Nevera – to universal global acclaim. So I can’t begin to tell you how excited I am by the potential of these two incredible brands combining knowledge, technologies and values to create some truly special projects in the future,” he added.
