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| Rimac buys a Bugatti from Volkswagen |
Croatian electric supercar startup Rimac has announced that it has acquired Bugatti from Volkswagen and is creating a new company called Bugatti Rimac.
Rimac Mate is led by the Bugatti Rimac, who founded the company in a garage in 2009 and developed it into one of the most popular technology providers in the industry.
During this time, Rimac has become a sought-after brand. Several automakers have asked the startup to help them build their electric supercars.
Rimac released the Nevera engine earlier this year. It's an electric four-wheel drive car with 1,914 horsepower. Top speed is 258 mph. It can accelerate from zero to 60 mph in 1.85 seconds.
Powered by a 120 kW battery and four 1.4 MW motors, the Nevera will be the fastest sports car ever. The nickname once owned by the Bugatti Chiron.
Under the agreement, Rimac will own a 55% majority stake in Bugatti, a 112-year-old French brand best known for its supercars.
The Volkswagen Porsche brand owns the remaining shares in Bugatti. Although Porsche owns some shares of Rimac, it will not allow it to acquire a majority stake in Bugatti.
After acquiring Rolls-Royce and Lamborghini in 1998, Volkswagen acquired Bugatti for $50 million.
Volkswagen sells Bugatti
Rimac Bugatti and Rimac Technology are said to be part of the Rimac group.
Rimac Technology focuses on the development, production and supply of battery systems, drive systems and other components for electric vehicles.
Rimac said: Bugatti and Rimac will remain independent brands, but will maintain existing manufacturing facilities and sales channels. Rimac Bugatti also represents the company developing the future of Bugatti and Rimac cars. This is achieved by integrating resources and knowledge in research, development, production and other fields.
This is why Bugatti introduced an electric model this decade, Rimac added. However, production of the hybrid model will remain at the end of the period.
In addition, Rimac's rapid rollout shows how electric vehicles are entering the luxury and sports car market.