Bugatti Rimac partnership became a reality

After four months after the initial announcement, Prosche has additionally announced the formation of a Bugatti Rimac joint venture based in Sveta Nedelja, Croatia. A move to Rimac’s new campus, currently under construction at a cost of 200 million euros, is planned for 2023. It will also be the location of Bugatti Rimac’s joint research and development center. The 200,000-square-meter site will employ 2,500 people.

Independent brands and manufacturers

Mate Rimac, the pioneer of hypercars on electricity and founder and CEO of Rimac Automobili, will become CEO. Porsche AG will play an important role as a strategic partner in the project. The supervisory board will include Oliver Blume, chairman of Porsche’s board of management, and Lutz Meschke, vice chairman and board member responsible for finance. Bugatti Rimac will be owned by the Rimac Group (55 percent) and Porsche AG (45 percent). Under the joint venture, Bugatti and Rimac Automobili will continue to operate as independent brands and manufacturers, retaining their production facilities in Zagreb (Croatia) and Molsheim (France), as well as their distribution channels.

Bugatti CEO Stephan Winkelmann stepped down on October 31, 2021, to focus on his role as Lamborghini CEO. – This merger represents an ideal solution for all parties involved. Together we are creating a powerful automotive company. We have succeeded in adding value to the prestigious Bugatti brand, steeped in tradition, by directing it even further into the future. Bugatti embodies charm and passion, while Rimac acts as an innovator with considerable technical expertise – said Oliver Blume, among others.

Personnel changes

In addition to Mate Rimac, the new management team includes former production manager and Bugatti Automobiles co-managing director Christophe Piochon, who will become chief operating officer of the combined company. Production will continue at the long-established Molsheim plant in Alsace. The role of chief financial officer will be assumed by Larissa Fleischer – most recently hired as Porsche’s Director of Controlling for Digitization and Development of New Business Models. Emilio Scervo, formerly chief engineer at McLaren, will become director of engineering. – I am convinced that we have achieved in our management team the perfect combination of experience and knowledge, innovation and team spirit. Therefore, I am extremely optimistic about this project. And because it is so close to my heart, I will continue to give it my full, warm support – said Lutz Meschke.

Within Porsche’s structures, the venture was referred to as Operation Rush. – True to its name, everything went very quickly – Meschke added. Porsche became a shareholder in Rimac in 2018 and has steadily increased its involvement in the company since then. – Now our strategic investment chain is coming to a successful completion. We had to put in a lot of effort into convincing, to get started at all. The final task was to overcome the remaining organizational obstacles. The team in Zagreb, Molsheim, Wolfsburg and Stuttgart worked extremely painstakingly and will certainly lead the new company into a bright future – Meschke concluded.

Electrification skills

The launch of the Bugatti Rimac joint venture is another big step for future CEO Mate Rimac as well – just 12 years after his start-up was founded in a garage. – I’m honored to lead the new merger and begin what will undoubtedly be a successful, revolutionary and exciting chapter for all involved. The Rimac and Bugatti brands are a great fit for each other. Rimac’s high-speed performance and our electrification skills perfectly complement Bugatti’s unique heritage and craftsmanship. In the future, some truly remarkable designs will emerge from this – said Rimac.

Bugatti Rimac is based in Sveta Nedelja near Zagreb. A move to Rimac’s new campus, currently under construction at a cost of 200 million euros, is planned for 2023. It will also be the location of a joint Bugatti Rimac R&D center. The 200,000-square-meter site will employ 2,500 people. At the same time, all Bugatti models will continue to be produced at the Molsheim plant. Jobs there are therefore protected for the long term. The Bugatti Rimac joint venture will initially employ about 435 people – about 300 in Zagreb and about 135 in Molsheim. This positioning serves to maintain and build on the strengths of the attractive Bugatti and Rimac brands.