1989 Porsche 928 on 2040-cars

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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

Porsche 911 puts Turbos on its turbos

Distinct from the turbo-but-not-Turbo Porsche 911, the new high-performance models come to market with either 540 or 580 horsepower, depending on which version of the 3.8-liter, twin-turbocharged flat-six engine you choose. Both figures count as a 20-horsepower bump over the last Turbo/Turbo S, allowing both models to hit 60 in under three seconds – 2.9 and 2.7 seconds, respectively – and in the case of the S, on to a 200-plus-mph top speed. This capability will not come cheap, of course. Before so much as dipping a toe into Porsche's notoriously deep options catalog, the base Turbo will demand a $160,195 check. That's awfully spendy, and things don't improve as you climb up the range. The cabriolet adds $12,300 to that, while the S starts at $189,095. Going topless in the Turbo S will require $201,395. We had no trouble building a Turbo S Coupe up to $211,000 without adding some of the more obnoxious options, like the $1,720 leather air vents. Check out our live galleries of both the new 911 Turbo and the 911 Turbo S at the top of the page. Redefining fast: the new 2017 Porsche 911 Turbo and 911 Turbo S Top model of the 911 range offers more power, fresh design, and enhanced features ATLANTA, Nov. 30, 2015 /PRNewswire/ -- Porsche will be off to a powerful start in 2016 when the 2017 911 Turbo and 911 Turbo S make their debut at the North American International Auto Show in Detroit in January. The top-of-the-line 911 models will be available in both coupe and convertible body styles and are equipped with engines offering 20 horsepower more than before, a sharper design, and enhanced features. The 3.8 liter twin-turbo six-cylinder engine powering the 911 Turbo now develops 540 hp. The increase in horsepower is achieved through modified intake ports in the cylinder heads, new fuel injectors, and higher fuel pressure. The 911 Turbo S now makes 580 hp thanks to new turbochargers with larger impelle. In addition to a higher maximum torque (553 lb.-ft. in overboost compared to 523 lb.-ft. on the Turbo), the Turbo S also has a higher redline (7200 rpm instead of 7000). Porsche is still the only manufacturer to use turbochargers with variable turbine geometry in gasoline engines. The engines now also have a dynamic boost function, which improves throttle response during spirited driving. It maintains the boost pressure during load changes – i.e. when the accelerator pedal is briefly released.

Porsche Goes After Tesla, VW Group Night | Autoblog Minute

Volkswagen Group Night kicks off the 2015 Frankfurt Motor Show with big news from Porsche and Mercedes.