Rimac and Bugatti begin operating under new company

If you haven’t heard of a stupendous headline in some time, chances are this one is going to leave you befuddled. It’s official! The EV hypercar maker and technology powerhouse, Rimac is collaborating with one of the world’s most coveted French hypercar maker, Bugatti. What does this mean? For business enthusiasts, it means extraordinary business while for automobile fans, it means good days to predict. The companies will retain their differences as standalone car manufacturers but will combine their strengths and business models for the collaboration. 

A pivotal role has been played by Porsche AG to facilitate this partnership and has acquired a 22% stake in the marque. Other automakers have also invested in the collaboration such as Hyundai Motor Group (11%). Bugatti Rimac holds the greatest share at 55%, Mate Rimac personally will claw back 35% and other investors will retain 32%.

At the same time, manufacturing and provision of battery systems, drivetrains and other EV components will be provided by Rimac. The technology provision arm will be 100% owned by the 10 year old firm. 

This partnership is likely to lead to fruition of award-winning products as it combines the design and engineering of Bugatti’s 100-year pedigree and technical innovation in the EV mobility. Porsche will harness efforts to ensure integrity between the two top players and also appoint Supervisory Board members, Oliver Blume and Lutz Meschke.

Mate Rimac has sits at the helm of operations of the newly born company and will operate at the CEO level. While the company’s headquarters is currently situated at the outskirts of Zagreb, Croatia, it will eventually shift its location to the recently announced 200-million euros Rimac Campus where joint production of brand new vehicles will commence in 2023. This campus will host 2,500 people in total. The figure currently stands at 1,300 dispersed across various locations. 

Christophe Piochon has been appointed as the Chief Operating Officer. He has previously managed as the Director General at Bugatti Automobiles and Larissa Fleischer’s incumbent is recognised as the Chief Financial Officer and Emilio Scervo bears the appellation of Chief Technology Officer. 

Rimac Technology will still continue with its primary occupation of designing and bringing to life technologies for many global manufacturers and leverage this to its advantage to develop state of the art EVs and hypercars in future.

Commenting on the first day of Bugatti Rimac operations, Mate Rimac, Bugatti Rimac CEO, says: “I am honored to be leading this new fusion of automotive minds and begin what will no doubt be a successful, revolutionary and exciting new chapter for everyone involved. I am also extremely curious to oversee the profound impact Bugatti Rimac will have on the industry, and I look forward to developing innovative new hypercars and technologies.

“It’s difficult to find a better match than Rimac and Bugatti. What each party brings to the table in terms of technical expertise, know-how and automotive history makes for an electrifying recipe. Rimac’s fast-paced operations and electrification skills are the perfect complement to Bugatti’s exceptional heritage and craftsmanship. Stay tuned for some truly extraordinary projects in the future.”

Oliver Blume, Chairman of the Board of Management at Porsche, names this merger as “the perfect solution” for everyone involved: “Together, we are creating a high-performance automotive company. We have succeeded in positioning the traditional Bugatti brand with its charisma for the future in a way that creates value. Bugatti embodies fascination and passion, and Rimac has great innovative strength and tech expertise."