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Bugatti becomes Croatian
VW sells the majority of the luxury brand Bugatti. Their new main owner is in Dubrovnik.
Bugatti becomes Croatian
The VW managers in Wolfsburg have been thinking for a long time about how they could separate from the luxury sports car brand Bugatti. With Porsche and Rimac, the group has now found a solution in Croatia in which they still retain a certain amount of control over technical development. As is often the case with the Volkswagen Group, the new construct is somewhat complicated.
A joint venture called Bugatti-Rimac is founded. The Croatian electric sports car specialist Rimac will hold 55 percent of this. Porsche will take over the remaining 45 percent.In return, the Stuttgart VW subsidiary receives ownership of the Bugatti from VW. Porsche, in turn, has had a capital connection with Rimac since 2018 and has continuously increased its stake to 24 percent. The new new Bugatti-Rimac joint venture will be based in Zagreb and is scheduled to launch in the fall. However, the Bugatti factory in Molsheim, France, where the company was founded in 1909, will remain intact.
Electric offensive
“We are combining Bugatti’s strong expertise in the hypercar business with Rimac’s great innovative strength in the promising field of electromobility,” explained Porsche boss Oliver Blume. The future boss Mate Rimac, founder and owner of the new majority owner of the same name, explained that he wanted to make the exclusive car manufacturer financially successful and profitable. In return for the majority share of 55 percent, Rimac gave Porsche 45 percent of Rimac's hypercar business, it is said. VW boss Herbert Diess had already announced the plan for a joint venture with Rimac in March. The first models will be a Bugatti Chiron with a combustion engine and the purely electric Rimac Nevera.