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Rimac inks deal to purchase 55% of Bugatti from VW Group

ZAGREB, Croatia — Croatian electric supercar builder Rimac is taking over the iconic French manufacturer Bugatti in a deal that is reported to be worth millions of euros. Rimac said GermanyÂ’s Volkswagen Group, including the Porsche division — which owns a majority stake in Bugatti — plans to create a new joint venture. The new company will be called Bugatti-Rimac. Rimac Automobili announced Monday that it will be combining forces with Bugatti to “create a new automotive and technological powerhouse.” Rimac has progressed in 10 years from a one-man garage startup to a successful company that produces electric supercars. Mate Rimac, who founded the company in 2009, says the venture is an “exciting moment” and calls the combination of the companies “a perfect match for each other.” Porsche will own 45% of Bugatti-Rimac while Rimac Automobili will hold the remaining 55% stake, according to Croatian media reports. Financial details of the deal were not published. Bugattis will continue to be assembled in eastern France, where the company was established in 1909. The vehicles will use engines developed and made in Croatia. “In an industry evolving at ever-increasing speed, flexibility, innovation and sustainability remain at the very core of RimacÂ’s operations," the company said. “Uniting RimacÂ’s technical expertise and lean operations with BugattiÂ’s 110-year heritage of design and engineering prowess represents a fusion of leading automotive minds." Earnings/Financials Green Bugatti Automakers Porsche Volkswagen Green Automakers Electric Supercars

Enjoy a look at the World's Fastest Police Fleet in Dubai

Last year, it seemed like nearly every month there was news of an additional hypercar joining the fleet of the Dubai Police. It was shocking enough when the force showed off its Lamborghini Aventador, but the armada kept growing to include even more exotic vehicles like an Aston Martin One-77 and eventually even a Bugatti Veyron. To understand the point of building this assortment of supercars, the crew from Vocativ went behind the scenes with the Dubai Police and into the immaculate warehouse where the cars are kept. The Veyron and Aventador are just the headline-grabbers. When their Audi R8 and Nissan GT-R are getting short shrift, you know it must have a wild collection. The video is a fascinating look inside the force and gets some insight into why the Dubai Police would spend around $6.5 million to build this collection. It certainly isn't to catch speeders... Scroll down to learn what it's all about. News Source: Vocativ via YouTube Bugatti Lamborghini Police/Emergency Videos dubai dubai police

Bugatti not planning an EV or SUV in the next 10 years

Bugatti is at a turning point in its history: It will end production of the Chiron and the W16 engine that powers it in the coming years. What's next remains a little murky, but the company confirmed that it's not planning on releasing an electric car or an SUV for at least 10 years. "A purely electric version is not included in our 10-year plan for Bugatti. There will also be no SUV," said Bugatti-Rimac CEO Mate Rimac in an interview with industry trade journal Automobilwoche. "If it's comparable, then it's not a Bugatti," he added, citing the firm's founder. His comments put an end to the rumors that have hovered around Bugatti since Croatia-based Rimac purchased a controlling stake in July 2021. Rimac made a name for itself by developing high-performance EVs, and some feared it would leverage its expertise to launch a range of badge-engineered battery-powered Bugatti models. Rimac ruled out badge engineering early on and stressed the two brands won't overlap, though its CEO predicted that "within this decade there will be a fully electric Bugatti" shortly after the purchase was announced. Bugatti has started developing the Chiron's successor and Autoblog confirmed in August 2022 that the model will be powered by a plug-in hybrid drivetrain. Rimac stopped short of revealing precise technical details about the yet-unnamed model but told Automobilwoche his team hopes to increase the system's electric-only range from approximately 12 miles in some gasoline-electric hypercars to 30 miles. More details about Bugatti's future should emerge in the coming months. In the meantime, the company has its work cut out for the coming years: it needs to finish production of the Chiron, build the track-only Bolide, and make the 99 planned units of the sold-out Mistral (pictured). Related video: