The Bugatti Rimac deal will result in the formation of the new Rimac Group
Bugatti and Rimac have joined forces after signing a deal, which was rumoured about for quite some time, with approval from Volkswagen and Porsche.
Announced on Monday (5th July), the joint venture will result the formation of the Rimac Group that will have 2 companies – Bugatti Rimac LLC and Rimac Technology – under its fold.
As part of the Bugatti Rimac deal, the Rimac Group will be the major shareholder with a 55 percent stake, while Mate Rimac (Founder and CEO of Rimac Automobili and the CEO of Rimac Group) will retain his 37 percent share.
Similarly, Porsche (24 percent), Hyundai Motor Group (12 percent) and other investors (27 percent) will also have the same shareholding as before.
Under Bugatti Rimac LLC, both brands will continue to operate separately and will also retain their existing production facilities which are located at Molsheim, France (for Bugatti) and on the outskirts of Zagreb, Croatia (for Rimac).
Once the €200 million (Rs. 1764 crores) Rimac Campus gets operational from 2023, both companies with share the 24.7 acre facility set to become their headquarters. It will also be the place where all research and development for future Bugatti and Rimac hypercars take place.
On the other hand, Rimac Technology, which will be fully owned by the Rimac Group will continue the Croatian firm’s other business venture which majors in developing and supplying battery systems, drivetrains and other EV components to automobile manufacturers.
