Rimac to keep Hyundai secrets from Porsche

Rimac to keep Hyundai secrets from Porsche


Croatian startup has indirectly confirmed plans to buy Bugatti.

The founder of the Croatian company Rimac, Mate Rimac, spoke for the first time about rumors of negotiations with the Volkswagen Group to join forces. The rumors stipulated that Rimac would acquire ownership of Bugatti, and in return Volkswagen-owned Porsche would increase its stake in the Rimac startup.

We have a very strong partnership with Porsche that is key for Rimac Automobili. Porsche is a shareholder in Rimac since …

Posted by Mate Rimac on Monday 1st March 2021

So, Rimatz published a big post on Facebook with comments to the article, which said that Porsche will receive more than 50% of the shares in his company. And this is what he said:

1) Negotiations with Porsche to increase their share are indeed underway.

This indirectly confirms the rumors that Bugatti will pass to Rimac. Porsche currently owns 15.5% of Rimac.

2) Porsche will never get 50% or close to Rimac. This would give Porsche control over Rimac’s operations. At the same time, the Croatian startup has obligations to other carmakers and shareholders, in particular to Hyundai. Mate Rimac personally promised that he would not let Porsche learn about the technologies that Rimac is developing for Hyundai and its other partners.

3) Thus, Rimac remains an independent company. Even if Porsche’s share does increase.

Rimac is currently preparing a new electric supercar C_Two. It should be the fastest production road car in the world. In recent years, Bugatti has produced the fastest cars. However, its gasoline-powered sports cars are increasingly facing environmental bans.

A deal with Rimac could have saved Bugatti: this legendary brand, thanks to Croatian technology, would continue to make the fastest cars in the world, but this time with an electric drive.

In addition to electric sports cars, the Rimac brand is renowned for the design and manufacture of high-end electric drives for the hybrid motors of the world’s leading car manufacturers. Thus, Croatians make electric motors for the already mentioned Porsche, as well as for Aston Martin and Swedish Koenigsegg.

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