Electric hypercar company Rimac is taking control of as part of a joint venture with Porsche which VW owns. Bugatti and Rimac will share resources and expertise but remain separate brands with their own production and distribution setups as part of the new company, which will be called Bugatti Rimac.
Once the joint venture is up by later this year, Bugatti will be able to harness Rimac’s EV knowhow and perhaps carry on its legacy of making electric vehicles, meanwhile, can tap into the knowledge of Bugatti, which makes on the planet in the Bugatti Veyron.
Rimac will own 55 percent of Bugatti Rimac and Porsche will hold the remainder. As of March, Porsche directly will have 24 percent of Rimac, following an initial investment for a 10 percent stake in 2018.
Meanwhile, the Rimac Group is creating a new company, Rimac Technology, to handle “development, production and supply of battery systems, drivetrains and other EV components.”
Bugatti Rimac’s headquarters will be in Zagreb, Croatia, where Rimac is based. A 200 million Euro ($237.3 million) Rimac Campus is scheduled to open in 2023 and it will be the research and development hub for both Rimac and Bugatti hypercars.