Bugatti-Rimac to be Majority Owned by Porsche
Porsche looks to dip their toes in the EV hypercar pond with the recent announcement of Bugatti-Rimac venture.
We’ve learned that Porsche will have majority control of the new Bugatti-Rimac venture. Rimac, founded by Mate Rimac, a Croatian innovator and pioneer in the field of electric vehicles will partner with famed automobile procure Bugatti. Rimac started his company in his lowly garage back in 2009, but will soon be acquired by Porsche.
“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,” says Oliver Blume, Porsche CEO who will also serve as a supervisory board member of Bugatti-Rimac.
The New Structure
“Porsche and Rimac have agreed to set up a joint venture that incorporates Bugatti,” shares Porsche “Oliver Blume and Mate Rimac have signed the corresponding agreements and announced the name of the new hypercar manufacturer: Bugatti-Rimac.”
Bugatti and Rimac’s automobile companies will now be under Bugatti-Rimac. Bugatti-Rimac is owned 45% by Porsche and 55% by Rimac Group. Rimac Group is owned 37% by Mate Rimac, 27% Other Investors, 12% by Hyundai, and 24% by Porsche.
That may be a bit confusing, but if we do a little math we’ll find that Porsche owns 58.2% of the new Bugatti-Rimac venture. Here’s a breakdown: of the 55% ownership in Bugatti-Rimac from the Rimac Group, Porsche owns 24%. Furthermore, 24% of 55% gives us 13.2%. That 13.2% on top of the 45% Porsche already owns means a total of 58.2%. And that means controlling interest in the new company.
That’s certainly not a bad thing, considering Porsches profitability in contrast to other VW-owned brands. We can reasonably expect the new brand to do well.
What It Means
“Rimac will hold a 55 percent share in the Bugatti Rimac joint venture, while Porsche will have a 45 percent share. Porsche also holds a 24 percent share in Rimac directly. Bugatti will be brought into the joint venture by current owner Volkswagen. The shares will then be transferred to Porsche.”
Bugatti-Rimac expects to employ around 430 individuals in the new venture. 300 of which will work at company headquarters in Croatia and the remaining 130 in Molsheim, France at the famed Bugatti factory.
With this new venture, expect Bugatti-Rimac to begin producing some of the world’s most cutting-edge hypercars. Given Rimac’s EV tech and Bugatti’s hypercar expertise, exciting will be the norm with the new company. It’s safe to say that a whole new generation will have their walls adorned with posters of the latest Bugatti-Rimac product for years to come.
Photos: Rimac