Rimac Automobili officially joins forces with Bugatti Automobiles under the recently announced, Bugatti Rimac d.o.o. The new company sees two motor vehicle powerhouses generate an exciting movement in the automotive and technology industries, originally initiated and strongly supported by the sports car manufacturer Porsche AG.
Rimac’s short but rich 10-year history from garage start-up by one man, Mate Rimac, took a big leap forward to begin official operating under Bugatti Rimac as of November 1st.
The Rimac Group is the major shareholder in Bugatti Rimac with a 55% stake. Mate Rimac will retain his shareholding in Rimac Group at 35%, with Porsche at 22%, Hyundai Motor Group doing the same at 11%, and other investors making up 32%. The development, production, and supply of battery systems, drivetrains, and other EV components that Rimac is known for and trusted by, will be separated into a new entity, Rimac Technology, that is 100% owned by the Rimac Group.
Bugatti Rimac has the unique combination of two automotive and technological trailblazers. Rimac’s distinctive agility, technical expertise, and relentless innovation in the EV sphere, along with Bugatti’s 110-year heritage of design and engineering of some of the world’s most iconic hypercars, are now combined in the leading hypercar company. Porsche plays a strong role in the joint company as a strategic partner. Along with two managers, the Stuttgart based sports car manufacturer appointed two Supervisory Board members, Oliver Blume and Lutz Meschke.
Mate Rimac’s leadership and strategic direction that has allowed Rimac to become an industry frontrunner means he is exceptionally skilled to lead the company as Chief Executive Officer. As CEO of Rimac Group, he runs both Bugatti Rimac and the new division, Rimac Technology.
Bugatti Rimac’s global headquarters is situated at Rimac’s current base on the outskirts of Zagreb, Croatia, but in time will transition to the recently announced €200M and 200.000m2 Rimac Campus, also serving as the home of Rimac Technology. With construction having now begun, joint research and development of future Rimac Automobili and Bugatti hypercars will ultimately take place there, with projected opening in 2023.
High-tech innovation forms the basis of the state-of-the-art facility, with the capacity to host 2,500 curiosity-driven people and a hive of groundbreaking developments. Bugatti Rimac operates with 435 employees as part of the new company, 300 of headquartered in Zagreb and 135 in Molsheim, France. In addition,180 people at Bugatti Engineering’s location in Wolfsburg, Germany, are supporting the new company. Rimac Technology consists of over 900 employees whilst the Rimac Group tackles over 1,300 employees across its various locations.
Bugatti Rimac’s new Board of Management has determined Christophe Piochon as Chief Operating Officer. He formerly held the position of Director General at Bugatti Automobiles and guarantees the continuation of the manufactory with its worldwide outstanding quality. Larissa Fleischer became Chief Financial Officer, previously being the head of controlling at Porsche in the areas of digitalization and the development of new business models. Lastly, Emilio Scervo is named Chief Technology Officer, having held the same title before at Rimac Automobili.
Rimac Automobili and Bugatti Automobiles will each continue to operate as separate brands and manufacturers, retaining their individual production facilities respectively, as well as the distribution channels. Rimac Technology will continue to innovate, developing vehicle systems and technologies for many global OEMs.
Commenting on the first day of Bugatti Rimac operations, CEO Mate Rimac says, “I am honored to be leading this new fusion of automotive minds and begin what will no doubt be a successful, revolutionary and exciting new chapter for everyone involved. I am also extremely curious to oversee the profound impact Bugatti Rimac will have on the industry, and I look forward to developing innovative new hypercars and technologies.”
He also claims that “[it’s] difficult to find a better match than Rimac and Bugatti. What each party brings to the table in terms of technical expertise, know-how and automotive history makes for an electrifying recipe. Rimac’s fast-paced operations and electrification skills are the perfect complement to Bugatti’s exceptional heritage and craftsmanship. Stay tuned for some truly extraordinary projects in the future.”
“I am convinced that we have found the right mix of experience and know-how, innovative strength and team spirit for the management,” says Lutz Meschke, Deputy Chairman of the Executive Board and member of the board for Finance and IT at Porsche AG. “That’s why I’m very optimistic and because the project is very close to my heart, I will continue to accompany it closely and passionately in the future.”
Oliver Blume, Chairman of the Board of Management at Porsche, named this merger as “the perfect solution” for everyone involved, “Together, we are creating a high-performance automotive company. We have succeeded in positioning the traditional Bugatti brand with its charisma for the future in a way that creates value. Bugatti embodies fascination and passion, and Rimac has great innovative strength and tech expertise.”