Bugatti is preparing an electric car worth less than $ 1 million

Bugatti is preparing an electric car worth less than $ 1 million

November 18, 2019 0 By autotimesnews

Bugatti Automobiles aims to expand its appeal by adding a Chiron supercar worth 2.5 million euros (2.7 million dollars) with a slightly more affordable alternative.

The potential second model will be a grand tour or crossover with an electric drive, which can accommodate up to four people and will cost from 500,000 to 1 million euros.

Bugatti CEO Stephan Winkelmann said the French automaker is negotiating with the parent company Volkswagen Group for investments.

“The industry is fundamentally changing, and we need to consider what are the opportunities for developing Bugatti as a brand in the future,” Winkelmann said.

Winkelmann, who previously ran the VW Group Lamborghini brand, is trying to make the Bugatti viable enough to potentially survive outside the German automotive group and prevent the risk of re-folding.

Bugatti has long been considered a prime example of the engineering wastefulness of the VW Group. It was revived under the former chairman Ferdinand Piech in 1998, after the brand virtually disappeared in the 1950s.

An elite nameplate offers limited opportunities for the exchange of spare parts and technologies. Due to the high development costs and small volumes, the Veyron – the first Bugatti model running VW – was considered one of the largest companies losing money in the automotive industry.

Winkelmann said that at present Bugatti is “making decent money” and that now the brand should justify itself with business arguments, and not just engineering achievements.

Bugatti has limited the Chiron production cycle to just 500 cars, and less than 100 of them are still waiting in line. The company currently produces about 100 custom-tuned cars per year, including the $ 8.8 million Centodieci, based on the Chiron.

Ferrari, whose value has more than tripled since its public listing, has become the brainchild of a potential independent luxury car brand and has sparked interest in potential side effects from the VW Group.

VW Group CEO Herbert Diess is pushing upscale brands to increase profits and last year outlined a plan to unify Bugatti into the so-called super-premium group, which includes Bentley and Lamborghini.