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Bugatti and Rimac joint venture profitable 'beyond expectations'

WARWICK, England — The joint venture between Croatian electric carmaker Rimac and Bugatti has been far more profitable than anticipated as the two brands work on developing vehicles together under one roof, Rimac's top executive said on Wednesday. "It's highly profitable and cash flow positive beyond anybody's expectations," Rimac CEO Mate Rimac told Reuters in an interview at the UK offices of the carmaker's Rimac Technology unit in Warwick. "It's such a win-win situation for everybody." Rimac added the joint venture has brought "lots of synergies going both ways." The Rimac Group comprises the Bugatti-Rimac JV, producing the electric sportscar Nevera and the Bugatti Chiron — which is owned 45% by Porsche AG — and a technology unit which supplies battery systems and powertrain components to other carmakers. Earlier this year the group raised 500 million euros ($519 million) in a new funding round. Rimac's CEO said the company has developed a "really close strategic relationship" with Porsche, which was listed by its parent Volkswagen in October. Porsche holds a 20% stake in the Rimac group. "We are really collaborating on many levels, developing and producing lots of key elements of their (Porsche's) future hybridization and electrification," he said. Rimac's CEO said the group must become more like Ferrari with a predictable, stable and profitable business before it can contemplate an initial public offering. "They (Ferrari) make projections and they always achieve," he said. "What I want to have is some kind of stability and certainty before we do an IPO because we don't want to make promises we can't keep." An IPO could happen anytime from three years to a decade from now, and could involve going public as a group or spinning off a unit, he said, but is definitely coming because "we obviously have financial investors that at some point want to exit." Related video: Earnings/Financials Green Bugatti Porsche Electric Luxury Performance Supercars Rimac

Veyron and C7 Corvette join cast of Transformers 4

Like the Fast & Furious franchise, the Michael Bay-directed series of Transformers movies has become known as much for its bad acting as its impressive lineup of cars. As filming just started for Transformers 4, Bay's website has confirmed two new cars for the next installment as well as a makeover for everyone's favorite tractor trailer hero, Optimus Prime.
Joining the cast of T4 are a "race-inspired" Chevrolet Corvette Stingray and a Bugatti Veyron Grand Sport Vitesse. While Bay's website did not supply names for either car, Bugatti is reporting on its Facebook page that the Veyron will join the Autobots. Speaking of the good guys, top Autobot Optimus Prime is getting an all-new body based on a Western Star with a gaudy appearance that was seemingly inspired by Trick My Truck - right down to the six smoke stacks and side pipes!

Rembrandt signs off on the latest special edition Bugatti Vitesse

Remember when the Bugatti Veyron first came out? You'll have to go back the better part of a decade to 2005. People were taken aback by the million-dollar asking price. But now there are plenty of cars with price tags in the seven-figure range.
Pagani gets that much for the Huayra, as does McLaren for the P1 and Ferrari for LaFerrari. Aston Martin charged seven digits for the One-77, Hennessey charges that much for the Lotus-based Venom GT, Zenvo does for the ST1 and you can bet SSC will charge at least as much for the Tuatara. Suddenly the notion of a million-dollar supercar doesn't seem so absurd, does it?
$3 million - now that's another story, but that's just what Bugatti gets for the latest special edition Veyron you see here. The price for the "basic" Veyron inflated over the years, of course, and then went up with each iteration. The Grand Sport kicked it up a notch when it blew the roof off. The Super Sport that much more when it upped the power and the speed. Bugatti got that much more when it combined the best attributes of both to make the Vitesse roadster, and squeezes out just an extra little bit for each edition of its Legends series.