The fast-paced Croatian automotive and technology company, Rimac Automobili has joined forces with Bugatti Automobiles to create a new automotive and technological powerhouse.
Its taken quick-thinking entrepreneur Mate Rimac a sniff over ten years to progress from a one-man garage start-up into a global and desirable supercar brand.
As part of the deal, the newly-formed Group will be the major shareholder with a 55% stake. Mate will retain his original shareholding in the Rimac Group at 37%, with Porsche at 24%, Hyundai Motor Group doing the same at 12%, and other investors at 27%. The development, production, and supply of battery systems, drivetrains and other EV components that Rimac is known for and trusted by many automotive manufacturers will be separated into a new entity – Rimac Technology, which will be 100% owned by the Rimac Group. Rimac Technology will remain an independent company working with many global car manufacturers.
Mate Rimac will lead the new company. As CEO of Rimac Group, he will run both Bugatti Rimac and the new division, Rimac Technology. Bugatti and Rimac will both continue as separate respective brands, retaining existing production facilities and distribution channels. Bugatti Rimac represents the company that will develop the future of both Bugatti and Rimac vehicles, by joining resources and expertise in research and development, production, and other areas.
Mate Rimac, founder and CEO of Rimac Automobili:
“This is a truly exciting moment in the short, yet rapidly expanding history of Rimac Automobili and this new venture takes things to a completely new level. I have always loved cars and can see at Bugatti where passion for cars can take you to. I can’t begin to tell you how excited I am by the potential of these two brands combining knowledge, technologies, and values to create some truly special projects in the future.”
Porsche AG first bought shares in fast-paced Rimac three years ago and has successively increased them since then. This enabled us to build a close relationship with Mate and its highly innovative team at an early stage.
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