Volkswagen sells Bugatti brand to Rimac

Volkswagen sells Bugatti brand to Rimac

September 17, 2020 1 By autotimesnews

According to Car Magazine, the Volkswagen Group may sell the Bugatti brand to Rimac Automobili.

According to sources familiar with the situation, the deal was approved by VW management last week, but the supervisory board has not yet given approval. In any case, part of Bugatti will still technically be linked to the VW Group, given that Porsche has a 15.5% stake in Rimac. Car Magazin notes that as a result of the deal between the German concern and the Croatian company, Porsche may increase its stake in Rimac.

Obviously, the VW Group is not interested in investing in the Bugatti brand after leaving the conglomerate Ferdinand Pieja in 2015, and in 2019 the famous automotive industrialist passed away.

The agency emphasizes that the Piech family still owns 50% of the VW Group and the only way to convince them to sell Bugatti is to make Porsche a beneficiary of the exchange. The main goal is to increase Porsche’s own stake in Rimac to 49%. It should be noted that recently such automakers as Hyundai / Kia, Koenigsegg, Jaguar and Magna have also invested in the Croatian company.

In addition, it was recently noted that the German automaker Volkswagen has hinted at fast charging ID.4. It should be emphasized that the flagship Volkswagen ID.4 will boast a power reserve of more than 500 kilometers.