Croatian electric car start-up Rimac announced that they would be taking the reigns of Bugatti after the VW group agreed on a deal to form a new company named Bugatti-Rimac after an initial report in the Financial Times.
This comes as a huge surprise after the VW group recently announced that they would not be selling Lamborghini. However, it was clear that they already had other plans for one of their performance brands.
As one of the newest kids on the scene takes over one of the most well-established legends, let's take a look at what we know about the new Bugatti-Rimac operation so far.
Mate Rimac At The Wheel
Rimac's founder, Mate Rimac, will be taking the reigns for this new project as the brands share resources and research in this joint venture that includes another VW Group brand: Porsche, who has recently been handed the reigns to Bugatti by Volkswagen.
The merger outlines that both Rimac and Bugatti will still be separate entities with their own production lines and distribution networks. Essentially, Porsche wants to push Bugatti towards a better future, which is sure to include an upscaling in the development of electrification technologies.
The already established Croatian startup that has made its name by building crazy electric supercars such as the Rimac Navera, is a real partner. Porsche will hold a direct 45% stake in the joint venture, while Rimac owns the remaining 55%.
Porsche have also managed to gain a direct holding of a 24% stake in Rimac as part of the deal, an increase from their original 10% investment back in 2018.
It's clear that through the years Porsche have seen the potential in Rimac and have now put their money where their mouth is. The new venture for Bugatti and Rimac is set to bring out the best of both worlds.
Alongside all of this, the Rimac Group is currently creating a new company called "Rimac Technology". They hope to handle "development, production and supply of battery systems, drivetrains and other EV components." This will be a sort of EV consultancy company, where Rimac will sell their battery technology expertise to brands looking to invest in EV's.
Rimac has proven to the motoring world that they are the best in the business when it comes to making extremely fast all-electric supercars. Mate Rimac, the young entrepreneur who started the company out of his garage is finally getting the recognition he deserves as his company now lead the way in electric supercar performance.
What The Future Looks Like
In the near future, not much will be changing for both company's line-ups. The newly founded Bugatti-Rimac will build the Chiron for Bugatti and the Nevera for Rimac. However, in the future, Rimac will have a heavy hand in the development of the French manufacturer's outputs, including Bugatti's first-ever electric hypercar.
The Bugatti production plant in Molsheim will remain and all future Bugatti cars will still be assembled at the facility. The same goes for Rimac's production line in Zagreb, Croatia.
Porsche CEO Oliver Blume had this to say on the subject:
"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,"
"Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base and a global dealer organization to the joint venture."
The joint venture is set to merge the best of both worlds, all with an aim for bettering the future of the supercar.
The new Bugatti-Rimac headquarters are set to be in Zagreb, Croatia, Rimac's hometown. A $237.3 million Rimac Campus is due to be open by 2023 where it will be the research and development centre for both of the brands' hypercars.
The recent unveiling of the Rimac Nevera boasted the extent of Rimac's EV technology. The ludicrous hypercar is powered by a 120kWh battery pack and four motors to achieve about 1,914 horsepower. It goes from 0 to 60 mph in 1.85 seconds and will top out at 258 mph.
The new Nevera is due to be the fastest road-legal sports car ever, a spot previously held by the Bugatti Chiron. With this kind of performance and competition, it's clear to see why Bugatti saw fit to merge with Rimac.
Founder and CEO of Rimac, Mate Rimac, had this to say in a statement:
“Rimac and Bugatti are a perfect match in terms of what we each bring to the table,”
“As a young, agile and fast-paced automotive and technology company, we have established ourselves as an industry pioneer in electric technologies.
The Bugatti-Rimac joint venture is set to be a defining one for the next chapter in the history of performance cars. With years of fine detailing from Bugatti and a breath of start-up energy from Rimac, we are looking forward to seeing what the results of this collaboration will be.