Electric hypercar maker Rimac takes over VW’s Bugatti

Say hi to a new supercar powerhouse: Rimac Automobili has taken a controlling stake in Bugatti to form a new company, Bugatti Rimac.

Rimac, which recently launched the incredibly fast, $2.44 million Rimac Nevera, is known not only for its electric hypercars, but also for its electric powertrain and battery tech, which is used in several well-known electric sports cars, such as those from Koenigsegg and Aston Martin. Bugatti is a household name among supercar lovers with a tradition going back more than a hundred years; its newest model, the Bugatti Chiron, is the world’s fastest petrol car.

Announced on Monday, the deal also involves some restructuring within Rimac. The newly formed Rimac Group, which is owned by founder Mate Rimac, Porsche, Hyundai, and other investors, will have a 55 percent stake in Bugatti Rimac — the company arm that builds cars, consisting of Bugatti Automobiles and Rimac Automobili. The remaining 45 percent is owned directly by Porsche (Porsche is owned by Volkswagen, as was previously Bugatti). Finally, Rimac Group is a 100 percent owner of Rimac Technology, which focuses on developing and building battery systems, drivetrains, and other EV components.

The shareholder structure of Rimac Group.
Credit: rimac group

Mate Rimac, who founded Rimac Automobili as a one-man startup back in 2009, will be the CEO of Rimac Group.

“I can’t begin to tell you how excited I am by the potential of these two incredible brands combining knowledge, technologies, and values to create some truly special projects in the future,” Rimac said in a statement.

The brands will initially continue to operate independently. Over time, however, Bugatti Rimac’s headquarters will move to Rimac Campus, a 100,000m2, €200 million ($238 million) campus that’s scheduled to open in 2023 in Sveta Nedelja, on the outskirts of Croatia’s capital Zagreb.