Rimac, the electric car company that made one of the fastest electric cars in the world has now taken control of Bugatti, maker of the world¡¯s fastest production car, in a venture that could take the electric hypercar game to the next level.
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Rimac is taking control of Bugatti along with Porsche, which¡¯s currently owned by the Volkswagen Group, and it intends to share resources and expertise with each other while being separate brands managing their own production and distribution setups as a part of the new company that would be now called Bugatti Rimac.?
Once all the paperwork has been completed and the joint venture is up and running, Bugatti will be able to use Rimac¡¯s EV-tech prowess in its chunky hypercars and become ready for an electric future.?
Rimac on the other hand could learn about Bugatti¡¯s decades-old engineering knowledge of making aerodynamic and luxurious hypercars that even today are regarded as some of the fastest street-legal machines on the road. The venture is expected to go live by the end of this year.?
As per the venture, Rimac will own 55 percent of Bugatti Rimac and Porsche will own the remaining 45 percent. As of March this year, Porsche has a 24 percent stake in Rimac after an initial investment of a 10 percent stake in 2018.?
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Rimac will continue to push the limits of EV technology through a new company dubbed Rimac Technology that will take care of the development, production and supply of battery systems along with other EV hardware.?
The HQ for the company will be in Zagreb, Croatia, where Rimac was originally based. Rimac has also announced the development of a 200 million Euro Rimac Campus that is scheduled to open in 2023 that would act as a research and development hub for both Rimac and Bugatti hypercars.?
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Porsche CEO Oliver Blume said in a statement, ¡°We are combining Bugatti¡¯s strong expertise in the hypercar business with Rimac¡¯s tremendous innovative strength in the highly promising field of electromobility. Bugatti is contributing a tradition-rich brand, iconic products, a loyal customer base and a global dealer network to the joint venture. In addition to technology, Rimac is contributing new development and organizational approaches.¡±