Report Reveals Bugatti’s Upcoming Change in Ownership
Mate Rimac, aged 37, aims to acquire full control of Bugatti by purchasing Porsche’s 45% stake in the Bugatti-Rimac joint venture. He expressed his intentions to Automotive News, citing the need for autonomy in making long-term decisions and investments.
Changes in the Joint Venture
The joint venture began in 2021, granting Rimac a 55% ownership. It operates from Croatia, but Bugatti’s production remains in France. The collaboration allows both brands to leverage each other’s strengths.
Current Focus of Bugatti and Rimac
- Bugatti’s latest model, the Tourbillon, continues with petrol power.
- Rimac continues with electric vehicles and has no plans to shift focus.
Financial Moves and Background
Rimac made a preliminary offer for the Porsche share earlier this year. The 45% stake is valued at approximately €1 billion. The sale would end Volkswagen’s indirect ownership of Bugatti, a relationship stretching back to 1998.
Challenges for Porsche
- Porsche faced financial challenges due to less-than-expected EV demand.
- Sales declines in China and the US have also impacted its performance.
Rimac is targeting to complete the buyout by 2026. This move aims to streamline Bugatti’s decision-making process and secure independent control over its future direction.
