Yesterday’s reports are today’s news. Volkswagen Group CEO, Herbert Diess, has confirmed Bugatti and Rimac are currently discussing a joint venture.
Mr Diess told media control of the Bugatti brand will be transferred to Porsche, which will now discuss a joint venture for Rimac and Bugatti.
The statement appears to pour cold water on talk Bugatti could be sold.
“Porsche is currently preparing a partnership that’s going to be under discussion with Rimac, and Porsche will be taking care of that,” Mr Diess said.
“What we want to do is transition responsibility of Bugatti to Porsche, and Porsche in all probability will establish a joint venture with Rimac.”
Porsche last week raised its stake in Rimac to 24 per cent. It invested €70 million ($108 million) in the Croatian electric hypercar specialist.
While this ups its stake to 24 per cent, Porsche says it will not be “exercising a controlling influence”.
According to Mate Rimac, the Croatian automaker’s founder, “With many car manufacturers across the world being Rimac customers, it is important, both for Rimac and Porsche, that we remain an entirely independent business”.
Automobili Pininfarina’s first production vehicle, the Battista, will use a Rimac drivetrain and share its platform with the C-Two. Rimac also supplies components for the Aston Martin Valkyrie and Koenigsegg Regera.
Porsche’s financial relationship with Rimac began in 2018 when it purchased a 10 per cent stake, and this was raised to 15.5 per cent the following year.
“Rimac is well on its way to becoming a Tier 1 supplier for Porsche and other manufacturers in the high-tech segment,” Lutz Meschke, Porsche’s head of IT and finance, said in a statement prepared last week.
As part of the companies’ deepening relationship, Rimac is due to supply Porsche with “highly innovative series components”, while Porsche provides Rimac with the Stuttgart firm’s “know-how in production and methodological expertise in development”.
Mate Rimac founded his eponymous car maker in 2009 at the age of 21. The first production copy of the 960kW Concept One began rolling out of the factory in 2016.
In 2018 the company unveiled its successor, the C-Two with a monstrous 1427kW and 2300Nm from its four electric motors.