1992 Volkswagen Golf Gti 16-valve Hatchback 2-door 2.0l on 2040-cars

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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

Autoblog Minute: VW CEO Winterkorn out, rebuilding begins

Martin Winterkorn steps down as CEO of Volkswagen. Autoblog's Eddie Sabatini reports on this edition of Autoblog Minute, with commentary from Autoblog's Editor-in-Chief, Mike Austin. Show full video transcript text [00:00:00] Dr. Martin Winterkorn steps down as CEO of Volkswagen. I'm Eddie Sabatini and this is your Autoblog Minute. Dr. Winterkorn resigns in the wake of the VW emissions scandal. In a statement released to the press Dr. Winterkorn had this to say: "I am shocked by the events of the past few days. Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group... [00:00:30] I am doing this in the interests of the company even though I am not aware of any wrongdoing on my part..." For more on what Winterkorn's resignation means for Volkswagen and the industry at large we go to Autoblog's Editor-in-chief, Mike Austin: [00:01:00] [Mike Austin Interview] The investigation into Volkswagen is ongoing and Autoblog will continue to cover the story as it develops. [00:01:30] For Autoblog, I'm Eddie Sabatini. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.

Jack Kevorkian's old van up for sale in Detroit [w/video]

With Halloween fast approaching, a Detroit pawnshop is offering a macabre automotive memento to park in your garage – Dr. Jack Kevorkian's Volkswagen Bus (pictured above in 1990). The van is currently a broken-down heap with the interior a mess, but the title and registration proves Dr. Kevorkian's ownership. The pawnbroker is hoping to get $40,000 for the ghoulish ride, according to an interview with Fox 2 News. If you're unfamiliar, Dr. Kevorkian rose to prominence in the '90s when he helped with 130 assisted suicides. It earned him the nickname Dr. Death, and he was eventually convicted of second-degree murder in 1999, serving eight years in prison. He died in 2011. Kevorkian's VW has had quite a history. The van was reportedly due to be destroyed in 1997 but somehow avoided the crusher. A retired VW parts dealer put the bus on eBay in 2010, but the vehicle was removed for violating the site's policy against selling "murderabilia." The VW eventually went to auction, but this report said that it hasn't moved in over two years. The video below shows the decrepit vehicle currently, and the gallery above has period photos from the Associated Press. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.