Mate Rimac’s Croatian EV startup has taken over one of the world’s most iconic luxury brands.
Rimac and Bugatti have merged in a fascinating deal. This news comes just weeks after Rimac revealed their second production car, the Nevera. Rimac, who were only founded in 2009, will take a controlling 55% stake in Bugatti meanwhile VW’s Porsche subsidiary will own the remaining 45%.
The deal sees Bugatti, who were originally bought by the VW Group in 1998, ally with Rimac to share resources and knowledge. Both brands will remain separate however, as indicated by the below statement from Rimac.
“Bugatti and Rimac will both continue as separate respective 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.”
Mate Rimac, the 33 year-old founder and CEO of Rimac Automobili, issued the following statement:
“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.”
Rimac stated Bugatti will launch their first EV sometime during the 2020s. However, they will also produce hybrids under their control too.
Both companies will also retain their existing headquarters. That said, in 2023 Rimac plans to move to a new €200 million ($236 million) campus in Zagreb. It is understood this is where the research hub for Bugatti Rimac will be.
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Image via Rimac