Porsche Cayenne S Hybrid Premium Pkg Plus 21inch Turbo Wheels Bose on 2040-cars

Auto blog

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 918 Spyder goes ice drifting in Finland

Along with the Ferrari Laferrari and McLaren P1, the Porsche 918 Spyder is one of the trio of hybrid supercars potentially defining the path for these rarified vehicles going forward. When thinking about high-performance machines like this, the mind usually goes to precise driving around a circuit or maybe along a beautifully undulating road... not so much in the snow. Still, this group has more than enough power to make it through a little bit of powder, and the 918 proves that at the Porsche Driving Experience winter camp in Finland. Although, the set of studded snow tires certainly helps. Even with the trick all-wheel drive system in the Porsche combining a mid-mounted V8 and electric motors, this 918 has absolutely no problem lighting up the rear end in the snow and ice. Even at relatively low speeds, just a blip of the throttle is all it takes for the back tires to step out. However, the handling still looks quite controllable. It's hard to grin as this rare supercar does the Scandinavian Flick to set up a perfect drift between the snow banks.

Pininfarina teases its Tesla- and Bugatti-baiting EV supercar

Pininfarina isn't being bashful when it comes to getting into the car business. The Italian design house has revealed a sketch of the PF0 Concept, an electric supercar aimed directly at the world's fastest and most expensive vehicles. With upward of 1,000 horsepower, along with an expected price in the millions of dollars, this extreme EV is meant as a calling card for Pininfarina's upcoming range of electric cars and SUVs. So should the likes of Tesla, Porsche, Ferrari, Bugatti and Lamborghini be worried? Pininfarina might be new to building its own cars, but the company has many decades of experience designing and engineering some of the most desirable cars of all time — including many of the finest supercars to have worn a Ferrari badge on their nose. As we reported earlier this year, Pininfarina has teamed with Indian auto manufacturer, Mahindra, to develop a range of high-end EVs. With this roughly $500 million investment, not to mention some engineering help from Croatian supercar manufacturer, Rimac, Pininfarina aims to start high. The company will first introduce a hypercar, based on the PF0 Concept, within two years, then bring along a range of more affordable electric cars and SUVs. These will more directly take on the likes of Porsche Cayenne, Lamborghini Urus, and Tesla Model X. So yes, if you're in the business of building expensive cars, especially ones with a lot of batteries positioned inside them, Pininfarina's plans for the PF0 (that's a zero, not the letter "O," by the way) should make you sit up and take notice. "Automobili Pininfarina is a pioneering new business created to service the most discerning clients in the world," said Michael Perschke, CEO for Automobili Pininfarina. "Our product portfolio will launch with an innovative, zero-emissions hypercar that represents the progression we aim to make at the pinnacle of the luxury and sports car market." According to its press release, Pininfarina is currently presenting its "business and product plans to prospective retailer partners, clients and media in New York this week." After its tour of the Big Apple, look for Pininfarina to officially reveal the PF0 Concept during Monterey Car Week in August. Related Video: Design/Style Green Bugatti Lamborghini Porsche Tesla Electric Future Vehicles Luxury Performance Pebble Beach supercar mahindra hypercar Rimac