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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

2014 Porsche Cayman promo video hits the web

Don't know how we missed this, but you don't have to play around with the 2014 Porsche Cayman configurator to see the new coupe in action; Porsche has given us more than two beautiful minutes of Cayman footage to enjoy.
The partners in the on-screen tango are the 275-horsepower base Cayman and the 325-hp Cayman S. If you like to keep track of such things, the former starts at $52,600, the latter at $63,800, plus $950 destination for each. Watching a video like the one below, however, is free.

2014 Porsche 911 Turbo S

A Wicked-Fast Street Legal Multi-Tool
Walter Röhrl was carving up the circuit in the Porsche 911 Turbo S like a skilled Jedi Master - and I was sitting next to him, mesmerized by the breathtaking show. I had strapped myself securely into the front passenger bucket of the all-new coupe less than a minute earlier, expecting nothing more than a few quick laps around a track at the hands of another celebrated race driver. Been there, done that. Many times, actually.
Yet this was different. Röhrl was not only calculated and methodical in his approach, but his rally-tuned cerebrum appeared to be actively reading available grip levels while effortlessly tossing the all-wheel-drive Porsche into each corner at gut-wrenching speeds. His hands were moving rapidly, sending tiny steering corrections to the front tires, and he was using every inch of the track to extract more speed. We launched over a curb, dropped a wheel in the dirt and then drifted around a wide off-camber turn. His human precision and focus was astounding, and the performance he was extracting from the machine was just short of breathtaking.