Bugatti is Sold to Electric Car Startup Rimac

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Bugatti: The Croatian electric car startup Rimac announced on Monday (5) the acquisition of the French automaker Bugatti, which belonged to the Volkswagen Group. With the deal, which still needs to be approved by the antitrust authorities, the century-old manufacturer of supersports is now controlled by the Bugatti Rimac joint venture.

The new company, whose shares will be split between Rimac Automobili (55%) and Porsche (45%), will be headquartered in Zagreb, Croatia, headed by the Croatian brand’s CEO, Mate Rimac. The two automakers will maintain their current headquarters, for now, and will continue to function as separate brands.

The cars of both brands will be produced by Bugatti Rimac, uniting “Bugatti’s strong experience in the hypersports car business with Rimac’s tremendous innovative strength in the field of electric mobility,” according to Porsche Executive Board Chairman Oliver Blume. operations are expected to begin in the fourth quarter.

For the startup’s founder, the agreement is a milestone in the company’s short history. “I can’t even begin to say how excited I am about the potential of these two brands combining knowledge, technologies and values ​​to create some truly special projects in the future,” argued the executive of the new automaker.

Bugatti electric hypercar on the agenda

Initially, the joint venture that was just announced is expected to focus on two projects. One is the Bugatti Chiron, with its 1,500 hp W16 engine and 420 km/h top speed, while the other is the Rimac Nevera, a 1,914 hp electric hypercar capable of traveling 500 km on one charge .

But the new automaker’s future projects should include a long-awaited Bugatti electric hypercar, developed with the startup’s technology. There is still no more information about Bugatti Rimac’s plans, but rumors also point to the development of new hybrid supersports bearing the emblem of the traditional French brand.

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