Rimac Could Buy Bugatti Share Still Held by Porsche
Croatian manufacturer Rimac currently owns 55 percent of the Bugatti Rimac joint venture, but it is seriously considering buying out the remaining 45-percent stake held by Porsche. That would give Rimac boss Mate Rimac full control of Bugatti and allow him to chart a new course for the French brand firmly focused on electrification.
Tables turned
Founded in 2021, the Bugatti Rimac joint venture was initially seen as a strategic alliance between two complementary worlds: Bugatti's tradition and Rimac's technological innovation. According to several anonymous sources, Rimac recently submitted a preliminary offer to buy out Porsche's stake, valuing the company at over one billion euros.
Ironically, it’s believed that Porsche tried to buy out Rimac shortly after the creation of the joint venture. But the situation has changed: the German automaker is facing a drop in demand for its electric models and persistent supply chain problems, and its sales have been falling in the key market of China.
Significant investors to support Rimac
Rimac, backed by major financial players such as Goldman Sachs Asset Management and SoftBank Vision Fund 2, raised 500 million euros in 2022. Those funds could now be used to finalize the acquisition of Porsche's stake. Although discussions are still at an early stage, the scenario is gaining credibility.
What future for Bugatti?
If Rimac takes the reins, it could signal the end of the internal combustion engine at Bugatti. Already at the heart of the development of the Tourbillon hybrid hypercar, Rimac could opt for a complete transition to electric powertrains, integrating the cutting-edge technologies of the Nevera, its 100-percent electric hypercar.