French Bugatti may be sold to Rimac

French Bugatti may be sold to Rimac

March 2, 2021 0 By autotimesnews

From a conversation with the CEO of the Croatian manufacturer of electric vehicles, Rimac, it became known that the latter could become the owner of the French brand Bugatti.

Volkswagen Group’s plans to find a new direction for the French brand Bugatti are gaining momentum as recent reports suggest Bugatti may be involved in a deal with Rimac. It was reported in February that a final decision should be made by mid-2021, and now we have more preliminary details to share.

In a recent interview with the foreign publication Automobilwoche, Mate Rimak, CEO and founder of the Croatian manufacturer, confirmed that his company is in talks with Porsche on a strategic investment that should be completed in the next two to three months. Rimac expects to raise between $ 157 million and $ 181 million.

Automotive News was quick to report that Porsche’s stake in the EV maker could rise to “nearly half” in a potential deal that could include the transfer of Bugatti to Rimac.

However, Mate Rimak quickly responded to these messages using his Facebook profile.

“While it is true that we are discussing further expansion of this cooperation, which will lead to an increase in Porsche’s stake in Rimac Automobili, some media have erroneously (wrongly?) Reported that Porsche will acquire more than 50% or almost 50% of our company. Porsche’s share will grow, but far from 50%, and Rimac will remain an independent automaker with many industry clients that are not our shareholders / investors. ”

Porsche isn’t Rimac’s only partner in the supercar business, which Meit Rimac describes as a “limited market.” Aston Martin, Koenigsegg, Renault and Hyundai also have partnerships with the manufacturer, and the latter even owns a 14 percent stake in Rimac.

Not so long ago, AutoTimesNews wrote about hardcore Bugatti Chiron Terracross SUV. French hypercar tried on the image of a brutal SUV. The car on the renders retained the brand features of the Bugatti Chiron, while changing beyond recognition.