VW will lose control of Bugatti

VW will lose control of Bugatti

FineAuto

According to Bloomberg, the Bugatti brand will leave Volkswagen, and in the fourth quarter of this year it will become part of the Bugatti-Rimac joint venture controlled by the Croatian company Rimac.

Volkswagen will initially give the Bugatti brand to its subsidiary Porsche, which in turn, together with Rimac, will become the owner of the newly formed Bugatti-Rimac company. At the same time, the German side (in particular, the Porsche brand) will receive 45% of the shares, and the Croatian – 55%.

Note that the Rimac brand itself is also owned by Porsche: 24% of its shares were purchased by the German brand 3 years ago. Another 50% of the Croatian company is divided between its founder Mate Rimac (38%) and the South Korean company Hyundai (12%).

According to preliminary information, the creation of the alliance will end in the fourth quarter of 2021. By this time, its headquarters will open, which will be located in Zagreb, and the parties will receive the approval of the antimonopoly authorities. The exchange of technologies between the companies will reduce the cost of developing new models: they will be handled by the modern Rimac Campus scientific and technical center in Croatia, which is scheduled to open in 2023. The first novelties of the joint venture will be the Bugatti Chiron and the electric Rimac Nevera.

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