Rimac and Bugatti join forces to form new electric car tech company

Electric hypercar company Rimac and Bugatti have announced the creation of a new company, called Bugatti Rimac d.o.o. which will be led by 33-year-old Croatian inventor and entrepreneur Mate Rimac as Chief Executive Officer. 

Ten-year-old Rimac and 110-year-old Bugatti will both continue as separate brands, using their own production facilities and supply chains in Croatia and France respectively.

The new Bugatti Rimac company is a joint venture that will see the two manufacturers pool development resources, to “develop the future” of both brands, pointing to shared technology for all-electric hypercar models going forward. It will be based in Zagreb, Croatia, and will open in Q3 2021. 

The joint venture sees a restructuring of Rimac into an automotive group that now owns 55 per cent of the new Bugatti Rimac company. Porsche will own the other 45 per cent of shares; it took control of Bugatti within the VW Group umbrella earlier in 2021. 

A level higher, Porsche will retain its existing 24 per cent share in Rimac Group. Hyundai will also keep its level of investment in Rimac Group at 12 per cent, with Mate Rimac owning 37 per cent of the Group. 

With Bugatti Rimac operating as a standalone entity, the Rimac Group will split into two business units: the hypercar business, and a new operation called Rimac Technology, owned wholly by Rimac. This company will continue with the firm’s work in the field of battery and electric drivetrain development for global car manufacturers.

Bugatti Rimac will eventually be based at Rimac’s new £170m campus opening in 2023 in Kerestinec, Croatia. The firm says this will be the base for all research and development for future Rimac and Bugatti models. 

Mate Rimac, Founder and CEO of Rimac Automobili said: “We have just launched our latest hypercar – the Nevera – to universal global acclaim. So 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.”

Click here to read more about the new Rimac Nevera electric hypercar...