The Strategist

Porsche and Rimac take over Bugatti

07/07/2021 - 03:39

Germany's Porsche AG and Croatia's Rimac Automobili have entered into an agreement to form a joint venture that will own luxury sports car manufacturer Bugatti.

János Tamás
János Tamás
Volkswagen AG, which has owned Bugatti for the past 20 years, is putting the brand under the control of the joint venture as it intends to focus on electric cars and stop producing cars with internal combustion engines by 2035.

As noted in a Porsche press release, subject to antitrust clearance, the Bugatti-Rimac joint venture will be registered in the fourth quarter of this year and its headquarters will be located in Zagreb. 

Rimac Automobili will have a controlling stake of 55% and Porsche, which has a 24% stake in the Croatian manufacturer, will have a 45% stake. The joint venture will be headed by the founder and owner of Rimac Automobili, Mate Rimac. 

It is planned that the new company will initially produce Bugatti Chiron models and Rimac Nevera electric cars, as well as develop new models, including Bugatti electric cars.