Did Porsche Just Take Over Rimac?
There are supposed to have been a handful of deliveries of the Nevera (formerly the C_Two) out there somewhere, but apart from a lot of testing and prototypes, the number of Rimacs in customer garages could be counted on one hand, maybe two. This hasnt deterred major automakers from clambering over each other to invest in the company to get access to its EV technology. And there are a lot of owners. The Rimac Group itself is owned by Porsche (24%), Hyundai (12%), founder Mate Rimac (37%) and other investors that own the remaining 27%. The Rimac Group is divided into Rimac Technology, which is owned 100% by the Rimac Group, and the new Bugatti Rimac. Of Bugatti Rimac, the Rimac Group owns 55% while Porsche owns 45%. Rimac and Bugatti Join Rimac  On the surface, todays announcement means the new company, Bugatti-Rimac, will be controlled 55 percent by Rimac, with Rimac founder Mate Rimac as CEO, and that Bugatti will control 45 percent. Porsche chairman Oliver Blume and deputy chairman Lutz Meschke will both serve as supervisory board members at the new joint venture. "Porsche and Rimac have agreed to set up a joint venture that incorporates Bugatti," Porsche said. "Oliver Blume and Mate Rimac have signed the corresponding agreements and announced the name of the new hypercar manufacturer: Bugatti-Rimac." Meaning that:  "Rimac will hold a 55 per cent share in the Bugatti Rimac joint venture, while Porsche will have a 45 per cent share. Porsche also holds a 24 per cent share in Rimac directly. Bugatti will be brought into the joint venture by current owner Volkswagen. The shares will then be transferred to Porsche." Whatever the case may be, the bigger news may be that the world is turning electric. As it does so, carmakers are looking for reassurance that they can actually make something electric that will go down the road. The number of all-electric carmakers right now is slim. In the U.S. its Tesla (Lucid, Rivian, etc. have not sold any cars yet). In Europe its Rimac, even though Rimac hasnt done much beyond R&D so far. The future of hypercars will certainly be electric at some point. To get to that point, carmakers are scrambling to build alliances that will see that transition work better. This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. You may be able to find more information about this and similar content at piano.io