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Rimac takes over Bugatti from VW in powerhouse electric supercar deal

 

Rimac takes over Bugatti from VW in powerhouse electric supercar deal


Rimac, a Croatian electric supercar startup, stated that it was acquiring Bugatti from Volkswagen and renaming it Bugatti Rimac. The Financial Times was the first to break the story.


Mate Rimac will lead Bugatti Rimac, which he began as a one-man enterprise in a garage in 2009. Over that time, Rimac has established itself as a very coveted brand, with numerous established manufacturers approaching the company for assistance in developing their own electric supercars.


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It's not hard to figure out why that is. Rimac unveiled the Nevera earlier this year, a quad-motor, 1,914 horsepower electric vehicle with a peak speed of 258 mph and the capacity to accelerate from zero to 60 mph in less than two seconds. The Bugatti Chiron formerly held the record of fastest sports vehicle ever manufactured, but the Nevera is anticipated to surpass it.


In a powerful electric supercar transaction, Rimac buys Bugatti from VW.


Rimac will acquire a controlling 55 percent share in Bugatti, the 112-year-old French company famed for its aggressively priced supercars like the Chiron and Veyron, under the terms of the agreement. The remaining shares in Bugatti will be owned by Volkswagen's Porsche brand. (The businesses told FT that while Porsche holds some shares in Rimac, its overall holding will not give them a controlling position in Bugatti.)


Bugatti has been owned by Volkswagen since 1998, when it paid $50 million for the sports car brand after acquiring Rolls-Royce and Lamborghini. According to Porsche CEO Oliver Blume, this was an all-stock transaction, meaning no money changed hands.


Rimac Group will own Bugatti Rimac as well as Rimac Technologies, a subsidiary focusing on the research, manufacturing, and sale of battery systems, drivetrains, and other electric vehicle components. Rimac has provided automobile components to Porsche, Hyundai, and, yes, Bugatti throughout the years.


“Both Bugatti and Rimac will continue to exist as independent brands, with existing production facilities and sales channels,” says Rimac. “By combining resources and experience in research and development, production, and other areas, Bugatti Rimac symbolizes the firm that will create the future of both Bugatti and Rimac vehicles.”


Bugatti's plans for electric hypercars are taking shape: Rimac, a high-performance electric vehicle manufacturer, has confirmed a new relationship with the historic French automaker.


Both businesses will keep their separate offices, but Rimac intends to combine its employees at a new $200 million facility in Croatia that will open in 2023.


In a statement, Mate Rimac stated, "This is a really wonderful moment in the short, but quickly developing history of Rimac Automobili." “We've been through a lot in a short amount of time, but this new endeavor takes things to a whole new level. In terms of what we both contribute to the table, Rimac and Bugatti are a wonderful combination. We have positioned ourselves as an industry pioneer in electric technologies as a youthful, nimble, and fast-paced automotive and technology company.”


Rimac stated that Bugatti will have an electric vehicle this decade, but that hybrid versions would still be produced at the conclusion of the decade.

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