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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

NA auto output to reach 11-year peak

According to Automotive News, automakers are expected to manufacture 16 million light vehicles in North America in 2013. That's up 500,000 units from last year and marks the largest number since 2002. The prediction comes courtesy of LMC Automotive and IHS Automotive, which point to the improving US economy as a bellwether for total production. LMC Automotive says North America will produce 16 million vehicles while IHS has a slightly more optimistic forecast of 16.1 million units. A total of seven automakers are slated to increase production on the continent this year. Nissan is set to see the largest jump at 20 percent over last year.
Volkswagen, meanwhile, is one of the only manufacturers predicted to scale back production. Analysts expect the German company's output to fall by 23 percent to 170,000 units, thanks in part to slow demand for the Volkswagen Passat and Jetta.

TRANSLOGIC 150: Volkswagen XL1

How do you build the world's most fuel-efficient production car? Start with the world's most aerodynamic design. The Volkswagen XL1 is capable of 261 miles per gallon thanks to its sleek shape and ultra efficient plug-in diesel hybrid powertrain. The downside is that only 250 will be made and none will be sold stateside. That didn't stop us from taking our turn behind the wheel of this truly revolutionary ride.