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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

Porsche wants a better 'connected car' [UPDATE]

UPDATE: In an earlier version of this story we mistakenly identified Joe Lawrence as the CEO of Porsche Cars North America; Lawrence is in fact the Chief Operating Officer, COO, of PCNA. The text has been changed to reflect this. Porsche is known for great engineering, but it's usually the type that leads to fantastic engines and sublime handling, rather than cutting-edge infotainment systems. The company wants to alter that balance in the future to put a greater emphasis on connectivity in its models. Porsche Cars North America COO Joe Lawrence outlined the brand's goals during a speech at the Bloomberg Innovation Forum in Atlanta, according to Automotive News. "Recognizing the phone is so ubiquitous in every sector, how do we integrate that into driving experience in a way that is safe and enjoyable?" he said. Lawrence suggested the company might be working with Google and Apple on future solutions. Even if Porsche is working on making more tech savvy models, don't expect the company to forget its roots. Brand boss Matthias Muller also broached connectivity during his recent speech at a conference and said the sports car business' customers didn't want "a smartphone on four wheels." He promised investments in research and development to come up with an answer. In the same speech, Muller strongly suggested fully electric Porsche models were on the way and also announced a seventh model line coming in the future. Lawrence reiterated the company's future, as well, in his address. "We will see further electrification of our product line," he said, according to Automotive News. Rumors of Porsche building a Tesla-fighter have been circulating as of late. The vehicle is possibly in the body of the smaller Panamera called the Pajun, and it could offer a 300-mile range with an electric motor at each axle kicking out a reported total of 600 horsepower. Related Video:

Ferrari return to Le Mans looking more likely?

Statements made by Ferrari president Luca di Montezemolo may indicate that the Italian brand could return to a form of racing it's been absent from for 40 years - prototype racing. That's right, LMP1 could see a factory Ferrari team for the first time since 1973, if a report from ESPN F1 is to be believed.
"We have won with the 458 GTE, but I also quite like the idea of racing at Le Mans in the highest category: who knows, maybe one day we can return and win, say thanks and come home," Montezemolo said. "Maybe we should give it some consideration..."
These seemingly idle, off-hand comments might not hold much water, were rumors about Ferrari's return to prototype racing not swirling as recently as August. There's also the fact that the upcoming, 1.6-liter, turbocharged V6 being used for Formula One complies with the Automobile Club de l'Ouest's own LMP1 regulations, according to ESPN. Finally, Ferrari returning to Le Mans might also explain this video of a camouflaged Ferrari LaFerrari testing a new turbocharged engine, which we showed you a few weeks back. There's a fair chance that what we're actually seeing in that video are the early stages of a new Ferrari prototype testing.