This dream for a car lover does not end. The German giant Volkswagen has sold the majority of the popular Bugatti to the Croatian electric car maker Rimac, which was founded twelve years ago by 33-year-old Croatian Mate Rimac.
Croatian Elon Musk, as Rimac is sometimes nicknamed, is not the only buyer of a French car brand that makes supersports with tens of millions of crowns. He started his career in connection with the Porsche car manufacturer.
The newly created company will be called Bugatti-Rimac. The Croatian electric sports car company will own 55 per cent of it and will take over the operational management. After that, Porsche will get the remaining 45 percent. In a single decade, Rimac has built a company out of a garage startup with the ambition to bring the best in the automotive world.
Above the Bugatti-Rimac will be the newly formed Rimac group, where Mate Rimac, whose name and company name is pronounced with a “c” by the way, retains its original 37 percent stake. Porsche will have 24 per cent, Hyundai Motor Group will have 12 per cent and other small investors will have 27 per cent.
To date, the main, but less visible part of Rimac’s business, the development and production of various parts for electric cars, which Rimac supplies a number of global brands, will be allocated to the new Rimac Technology. It will be wholly owned by Rimac Group. Bugatti Rimac and Rimac Technology will lead the young Croatian.
According to a press release, Bugatti will continue to stay in Molsheim, France, and then Rimac plans to produce an electric super sports near Zagreb, Croatia. But that will change over time, at least in part.
Rimac is building a giant Rimac campus of more than five billion crowns near Zagreb on an area of one hundred thousand square meters, which it plans to open in two years. This will become the basis for all Rimac Technology research, but also the place where future Rimac and Bugatti vehicles will be developed. Up to 2,500 people should find work there.
“This is a really exciting moment in the short but rapidly growing history of Rimac Automobili. I have always loved cars, and at Bugatti I see how far that passion can take. I cannot even describe how excited I am about the possibilities that these two brands offer by combining knowledge, technology and values. To create truly exceptional projects in the future,” Mater Rimac commented on the outcome of the transaction, and the amount of which was not disclosed.
In addition to the Mate Rimac, the closed deal also appears to be a huge gain for Porsche and its shareholders. The first shares in the fledgling empire of Rimac were bought by a German sports car manufacturer just three years ago. At first it was ten percent, then its share increased to 15.5 percent and this winter for another 70 million euros bought another 8.5 percent of the Croatian brand.
Porsche’s president, Porsche, praises Rimac’s innovative strengths in electric mobility and the world-famous Bugatti brand, which includes iconic cars, loyal customers and a global dealer network.
When we translate the happy statements of representatives of two of the main participants in the car deal of the year into ordinary language, it is the only thing that comes to mind. Both supersport brands, which at first glance resemble other worlds, intend to combine the best of both.
If that works, the future of the supercar king could probably begin today.