The German concern Volkswagen still sold the French luxury brand Bugatti, which it had owned for over 20 years, since 1998. The new owner of the brand was the Croatian startup Rimac, which specializes in the development and production of electric vehicles.
On Monday July 5th, Bugatti and Rimac officially announced a hypercar joint venture. The headquarters of the new venture, dubbed Bugatti-Rimac, will be located in Zagreb, the capital of Croatia. It will open its doors to employees by the end of 2021.
During the merger, the Croatian company received 55% of the shares of the joint venture Bugatti-Rimac. And the remaining 45% is owned by German automaker Porsche, which also owns 24% of Rimac itself, after investing $ 83 million in March.
The Bugatti-Rimac joint venture will initially produce two cars – the Bugatti-branded Chiron with a W16 engine and the Nevera electric hypercar developed by Rimac. In the future, these two models will be joined by other co-created vehicles. They are all likely to be hybrid or all-electric.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
