Porsche 911 Carrera 2 Convertible 2-door 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 GT3 RS getting all-new atmospheric engine

Porsche surprised many of its most puritanical enthusiasts when it took a decidedly more usable approach with the current 911 GT3. But when the new GT3 RS debuts, it promises to be a much more extreme departure. And a big part of that comes down to the engine. At the Detroit Auto Show this week, Auto Express spoke with Porsche R&D chief Wolfgang Hatz – who also happens to be head of engine and transmission development for the entire Volkswagen group. Hatz revealed that Porsche has developed a completely new engine for the GT3 RS, and while previous rumors suggested the RS would go turbo to fill in for the lack of a GT2 (and make the most out of its displacement), Hatz confirmed that it will be naturally aspirated. Considering that Porsche rarely goes downwards when it comes to 911 engine displacement, only upwards, we'd expect the new RS to pick up where the previous 4.0 left off. The new GT3 RS is also expected to pack a more extreme suspension, aero and stripped-out interior, but those hoping for an old-school approach may be disappointed to learn that the new RS will (at least at launch) only be available with the seven-speed dual-clutch transmission – though a manual version could follow if there's enough demand. In a related development, Hatz also hinted that the Cayman GT4 could debut at the Geneva Motor Show in March, with an even more extreme approach than the previous Cayman R. The new top-of-the-line Cayman is reportedly being developed to comply with GT4 class racing regulations but be fully homologated for road use. Related Video:

Porsche in Paul Walker fatal accident was traveling over 100 mph before crash

The Porsche Carrera GT involved in the November crash that killed Fast and Furious star Paul Walker and racer Roger Rodas was traveling at speeds above 100 miles per hour before Rodas lost control for "unknown reasons," according to a report from the Los Angeles County Coroner's Office that has been acquired by The Hollywood Reporter.
Once control was lost, the Porsche spun, hit a curb and then impacted a tree and a light post, then it spun 180 degrees and hit another tree before erupting in flames, the report said. Neither Walker nor Rodas were under the influence of any drugs or alcohol at the time of the incident, according to toxicology reports conducted by the coroner.
As for the future of the Fast and Furious franchise, a separate by The Hollywood Reporter claims director James Wan, writer Chris Morgan and Universal Studios will move forward with the seventh installment in the franchise, which was only partially completed when Walker was killed.