After a lot of rumors, it is finally official, Mate Rimac will become the CEO of a brand new company called Bugatti Rimac d.o.o. that will have its headquarter in Croatia and becomes a new entity by the final quarter of 2021, and to really put this amazing feat into perspective … it took Rimac only ten years to become a massive company, back in 2010 Rimac had 8 employees, and when they introduced the Concept 1 at the 2011 IAA in Frankfurt, they had no idea that by 2021 they would join forces with a hypercar brand like Bugatti and have over 1,000 employees.
In 2018 a big milestone was reached when Porsche invested in Rimac Automobili, only a year later, in 2019, both Hyundai and Kia became shareholders of the company, today Mate Rimac decided it was time to separate his company Rimac Automobili that was founded twelve years ago, the original company will be renamed into Rimac Group that will contain two separate companies, one being Bugatti Rimac that will continue to build Hypercar, the other called Rimac Technology that will focus on creating technology not only for the Rimac hypercars but also for other companies.
But Rimac Group will only own a controlling interest in Bugatti Rimac of 55%, while the shareholders of the Rimac Group are Porsche with 24%, Hyundai at 12%, other investors hold 27%, while Mate Rimac himself holds 37% of Rimac Group being the largest shareholder, and while there is a new company called Bugatti Rimac, both Bugatti Automobiles and Rimac Automobili will remain separate companies, but they will combine expertise to create the future models for both brands.
Fear not, the 110 years of Bugatti history will be kept alive, production of Bugatti cars will remain at Molsheim, even for future models, once finished, the massive Rimac Campus in Croatia will be building all Rimac cars, but will also be the home of R&D for both Bugatti and Rimac, remember this massive campus will hold 2,500 employees, and when completed in 2023 will also house the production for technology and components for both Bugatti and Rimac cars.
Putting together the right structure for Bugatti Rimac took 18 months of negotiations according to Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG, with this joint venture the future of Bugatti Automobiles has been secured by uniting two strong brands, one being 110 years old, the second being very young but boasting a rarely seen growth path.
Bugatti became part of the Volkswagen Group in 1998, since then the world’s most impressive hypercars have left the gates at Molsheim, like the Bugatti Veyron and today the Bugatti Chiron, and while Porsche now owns 45% of Bugatti Automobiles and the Rimac Group the other 55%, production of these amazing, luxurious and extremely fast W16 quad-turbo hypercars will remain in France, even for the next generation of Bugatti cars.