“Operation Rush”, as the formation of the joint venture between Porsche, Rimac and Bugatti was dubbed internally, has been successfully completed. Bugatti Rimac will be based in Sveta Nedelja (Croatia) with immediate effect. Its CEO will be electric hypercar pioneer Mate Rimac, the founder and head of Rimac Automobili. For its part, Porsche will assume the role of strategic shareholder.
For this purpose, CEO Oliver Blume and Deputy CEO and Chief Financial Officer Lutz Meschke are represented on the Supervisory Board. The company will be owned by the Rimac Group (55%) and Porsche AG (45%). The two brands Bugatti and Rimac Automobili will continue to operate as independent brands and manufacturers. Thus, their respective production facilities in Zagreb and Molsheim and their sales channels will also be retained.
In September 2020, rumors first surfaced that the Croatian car manufacturer Rimac Automobili was to take over the VW luxury brand Bugatti. That’s what happened at the end of the second quarter of 2021. A little different than previously assumed. Porsche and Rimac have agreed to set up a joint venture involving Bugatti. Bugatti will be brought into the joint venture via the current owner, Volkswagen. As part of the establishment of the joint venture, the previous CEO of Bugatti, Stephan Winkelmann, resigned and will in future concentrate on his role as President of Lamborghini.
“This merger is the perfect solution for everyone involved. Together, a high-performance automotive company is created. We have succeeded in positioning the traditional Bugatti brand with its radiance to create value for the future. Bugatti embodies fascination and passion, Rimac has great innovative strength and tech skills. We would like to thank Stephan Winkelmann for his great commitment. He did an excellent job.– Oliver Blume, CEO of Porsche
The Croatian company Rimac develops and produces components for electromobility and produces its own electric super sports cars. A partnership was entered into with Porsche in June 2018 in order to make progress with regard to its own e-offensive. This was deepened for the first time in September 2019. At the beginning of March 2021, the supervisory board of Porsche AG approved an increase in the stake in Rimac. Porsche has thus increased its stake from 15 to 24 percent in the future.
For future CEO Mate Rimac, launching the Bugatti Rimac joint venture is another big step – just ten years after founding his start-up in a garage. He classifies the new joint venture as follows: “It is difficult to find a better combination than Rimac and Bugatti. Rimac’s fast-paced workflow and electrification capabilities are the perfect complement to Bugatti‘s exceptional heritage and craftsmanship. Stay tuned for some truly extraordinary projects in the future.”
Bugatti Rimac‘s headquarters are located in Sveta Nedelja near Zagreb. The move to the new Rimac campus, which is currently under construction, is planned for 2023. There will also be the joint research and development of Bugatti Rimac. On the 200.000 square meters and 200 million euros expensive area will work 2500 people. In parallel, as before, all Bugatti models are manufactured in the manufactory in Molsheim. The local jobs are thus secured in the long term. Joint Venture Bugatti Rimac starts with about 435 employees, about 300 in Zagreb and about 135 in Molsheim (France).
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