Categories
Business

Croatian Rimac to acquire luxury brand Bugatti from Volkswagen

The Croatian electric supercar maker, Rimac, is in the process of acquiring Bugatti from Volkswagen and sources say that executives already approved the deal.

According to multiple reports released today, Volkswagen is tired of spending money these super-monster cars and wants to focus elsewhere. A particular point to mention here is that Porsche wants this as part of a deal to get into Rimac.

Porsche would swap the [Bugatti] deal for a bigger share of the expected deal with Rimac. Their target is 49 percent, which will be tough, but the Germans want as much know-how and brainpower as they possibly can. In exchange for this Rimac, would get the Bugatti brand and relevant infrastructure, which looks like a perfect step for them.

Car also reports that a number of VW brands could possibly be offloaded or at least are under some measure of scrutiny, including Lamborghini, SEAT, Bentley, and Ducati, in an effort to centralize VW’s focus on all things electric and autonomous.

The luxury brand Bugatti, is best known for today’s 16-cylinder hypercars and its pre-WWII automotive masterpieces, which will likely be transferred to Rimac.

The Tesla of Europe

Rimac remains the Tesla of Europe, established in 2009 and with 600 employees, although only focusing on supercars or better said in electromobility, battery and performance. It’ll be interesting to see what it will do with Bugatti if and when this is all finalized.

Back in 2018, Porsche acquired a ten percent share in Rimac Automobili. In 2019, they bought another 5.5 percent. By doing so, Porsche is in good company: other investors include Hyundai, Jaguar, Koenigsegg, and Magna.