It’s official: Bugatti is no longer a wholly-owned part of the Volkswagen Group.
Four months after it was announced, ownership of Bugatti has been passed to a joint venture company known as Bugatti Rimac.
Rimac, the Croatian EV supercar maker, has a 55 per cent stake in the new firm, with its founder Mate Rimac becoming CEO of both brands.
Stephan Winkelmann, who had been CEO of Bugatti since 2018, steps aside to focus on being the head of Lamborghini.
“I am very excited to see what impact Bugatti Rimac will have on the industry and how we will develop innovative new hyper sports cars and technologies. It’s hard to find a better combination for new and exciting projects,” Mate Rimac said in a press release.
At present Bugatti Rimac has 435 employees, with 300 located in Zagreb, Croatia, and 135 in Molsheim, France. There’s a further 180 people working for the hypercar makers at Volkswagen’s corporate headquarters in Wolfburg, Germany.
According to the company, both Bugatti and Rimac will continue as independent brands, and will retain their current manufacturing facilities at Molsheim and Zagreb, respectively.
Although the Croatian firm will be in the driver’s seat, the Volkswagen Group will still have a significant say in Bugatti’s direction with Porsche owning 45 per cent of Bugatti Rimac. Porsche also owns a significant stake in Rimac.
“Bugatti embodies fascination and passion, while Rimac stands for innovative power and technical competence. Together, they form a powerful automotive company,” Oliver Blume, Porsche CEO and now Bugatti Rimac board member, said in a prepared statement.
Today’s transfer of ownership marks a new chapter for the Bugatti brand, which began life 110 years ago. (You can read more about the brand’s history and changes of ownership here.)
It also shows how far Rimac’s star has risen in the 12 short years since the firm was founded.
Reports indicate the move will ensure the firm has access to electric hypercar technology, something that Volkswagen was unwilling to invest in given its deep financial commitment to developing EVs for its seven other brands.