Car manufacturer Rimac takes over Bugatti and will make electric Bugatti

Rimac takes over Bugatti from the Volkswagen Group together with Porsche. Bugatti is best known for extremely fast hypercars with combustion engines, but under Rimac the company wants to make an all-electric model this decade.

With the acquisition, the Croatian carmaker says it aims to combine Rimac ‘s technological expertise and lean operations with Bugatti’s 110-year heritage of design and engineering prowess. The two car brands will share business assets and resources, such as research, development and manufacturing. The brands will continue to work independently of each other, Rimac promises, and will keep their current factories in Zagreb, Croatia, and Molsheim, France.

Rimac CEO Mate Rimac told the Financial Times that Bugatti will make an all-electric car this decade. Bugatti will also make hybrid cars. Porsche CEO Oliver Blume says that the takeover of Rimac does not involve money, but that the sale has gone with shares.

For the acquisition of Bugatti, Rimac has set up a new joint venture, comprising the two brands Bugatti and Rimac. Rimac Group will own 55 percent of the Bugatti-Rimac joint venture, Porsche will receive the other 45 percent. In addition to shares in the joint venture, Porsche owns 24 percent of the umbrella Rimac Group. Porsche is once again part of the Volkswagen Group.

Rimac is a car manufacturer that was founded in 2009 and is focused on making electric hypercars and developing technology for fast electric cars. In early June, the company unveiled the Nevera . The four engines of this electric hypercar together deliver a power of 1.4MW, or 1914hp, and a torque of 2360Nm. The car has a top speed of 412 km/h and can accelerate from zero to 100 km/h in 1.97 seconds. The Rimac Technology branch of the Rimac Group previously supplied EV technology to Aston Martin, Jaguar and various Volkswagen brands, among others.