In a sign that the end of internal combustion engine hypercars is near, Rimac and Bugatti have announced they are joining forces to create a new electric hypercar company.
The new joint venture, called Bugatti-Rimac, is expected to be established in the fourth quarter of 2021. The Croatian-based electric hypercar maker Rimac have a 55% stake in the company, with Porsche being the next biggest shareholder holding a 45% stake in the company.
Mate Rimac, the engineer who founded Rimac in his garage in 2009, says the new company represents an exciting opportunity. He also added the two brand names would live on with two different product lines.
“I think we can do incredible things. It’s an immense opportunity. We can have two parallel, very distinct product lines,” he said.
Porsche CEO Oliver Blume said Bugatti’s impressive hypercar resume and Rimac’s innovative electric vehicles make the two companies a “perfect combination” for each other.
“We are combining Bugatti’s strong expertise in the hypercar business with Rimac’s tremendous innovative strength in the highly promising field of electric mobility,” Blume said. (via CNBC)
No financial details of the deal were disclosed. The Bugatti models will continue to be produced at their facility is Molsheim, France, which employs 130 people. Rimac will maintain their headquarters in Croatia, where 300 people are currently employed.
Today the foundation for an exciting and promising future of BUGATTI was laid by the creation of the joint venture BUGATTI Rimac through @Porsche and @MateRimac. Porsche will hold a 45% stake in this new company.#BUGATTI #BUGATTIRimac
— Bugatti (@Bugatti) July 5, 2021