The long-mooted partnership between Bugatti and EV technology specialist Rimac Automobili has come into effect, with the marged Bugatti Rimac LCC company officially being incorporated.
The new company is 45% owned by Porsche and 55% owned by the newly formed Rimac Group, in which Rimac founder Mate Rimac retains a 37% shareholding, Porsche 24%, Hyundai Motor Group 12% and various other investors the remaining 27%.
Bugatti Rimac is headquartered in Croatia, with Mate Rimac serving as CEO and former Bugatti director general Christophe Piochon appointed chief operating offier.
Porsche chairman Oliver Blume and deputy chairman Lutz Meschke will both serve as supervisory board members for the new joint venture.
Rimac said that he was “honored to be leading this new fusion of automotive minds and begin what will no doubt be a successful, revolutionary and exciting new chapter for everyone involved".
He added: "I am also extremely curious to oversee the profound impact Bugatti Rimac will have on the industry, and I look forward to developing innovative new hypercars and technologies.”
Rimac’s powertrain, battery and components development arm will be separated out into a new, dedicated Rimac Technology division, which is part of the Rimac Group but remains independent and will continue to work with other manufacturers.
Bugatti and Rimac will remain separate brands, retaining their respective current French and Croatian production facilities. However, from 2023, the newly formed company will be based at the new Rimac Campus on the outskirts of Zagreb, which will employ 2500 people.
From launch, the company employs some 430 people: around 300 in Zagreb and 130 in Molsheim. Rimac said that "joint research and development" of future Rimac and Bugatti will eventually take place at the campus.
The move has significant implications for future models from the two firms – particularly Bugatti, which will gain access to Rimac’s high-output electric drivetrain technology as a potential replacement for its long-standing W16 petrol engine in the coming years.
Rimac will continue to build and develop its own models following the impending launch of its Nevera flagship, while Bugatti will initially continue to build and market its Chiron hypercar.
Porsche chairman Oliver Blume explained the potential mutual benefits of the partnership: “We're combining Bugatti’s strong expertise in the hypercar business with Rimac’s tremendous innovative strength in the highly promising field of electric mobility.
"Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base and a global dealer organisation to the joint venture. In addition to technology, Rimac is providing new development and organisational approaches.”
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So the new company is 45% owned by Porsche, 55% by Rimac Group. But Rimac Group is 24% owned by Porsche too. So Porsche really does have a fairly big say in whatever the new company does, via its own votes and as a big player in Rimac Group too.
Over to you MrMusk?, instead of giving us an ugly Truck and a it'll be here eventually sportcar, how are you going to cope with this collaboration this side of the pond?
I don't think Mr Musk will be to worried about a company making a 30 cars a year.
Over to you MrMusk?, instead of giving us an ugly Truck and a it'll be here eventually sportcar, how are you going to cope with this collaboration this side of the pond?
Easily. Instead of charging millions for either of the other combined cars which will sell in tiny numbers, his roadster will cost a tiny fraction for at least the same performance and to far more people who only have to be reasonably well heeled and not lottery winners or arabs. His cars already make a mockery of so called legacy car makers so its a moot point
The mind boggles as to what these manufacturers will dream up!
But frankly, the asking price will not be worth it.
Tesla is a relatively new company and does not get the credit is surely deserves IMO.