A Bugatti SUV Might Be On The Cards As Mate Rimac Is Considering Other Body Styles For The French Marque
Bugatti Merges with Rimac to Become Bugatti - Rimac, Riding on the Back of Porsche
We have been following this story (Bugatti-Rimac merger) for a while now at TopSpeed and the day has finally come. Porsche and Rimac , the Croatian EV performance automaker, have agreed to form a joint venture that will include Volkswagen’s high-performance marque; Bugatti .
Porsche’s Huge $83 Million Investment In Rimac Could Make For An Interesting Future
Porsche has raised its ownership stake in Rimac, going from owning a minority share of 15.5 percent to 24 percent. The deal cost Porsche €70 million, or around $83.2 million based on current exchange rates. This is the third time the German automaker has invested in its Croatian company. Back in 2018, Porsche secured a 10 percent minority stake in Rimac before that share grew to 15.5 percent in 2019. Other automakers have also bought into Rimac, specifically Hyundai and Kia. The two Korean brands invested €80 million, or around $95.1 million, as part of a technical partnership that would give birth to a pair of high-performance electric vehicles.
Bugatti May Soon Be The Property of Rimac - Here’s What That Would Mean
The Volkswagen Group could be on the verge of selling Bugatti to Rimac. A report from German weekly Automobilewoche quoted Porsche CEO and Volkswagen AG management board member Oliver Blume hinting that a decision on the blockbuster sale could happen by the middle of 2021.
Bugatti Could Soon Be Sold Off to Rimac
Revived in 1987 by Italian entrepreneur Romano Artioli, Bugatti was acquired by the Volkswagen Group in 1998. Under German ownership, the French brand introduced the Veyron and the Chiron, as well as a handful of one-off supercars, all powered by massive W-16 engines with more than 1,000 horsepower. Come 2020 and Bugatti could be sold off, and rumor has it the French company may end up with Rimac Automobili, the Croatian firm that produces electric supercars, drivetrains, and battery systems.
Porsche Buys Into the Most Unexpected Automaker and it Could Help Improve its Electrification Strategy
Proving that it has established itself as a legitimate company in the auto industry, Rimac Automobili has sold 10 percent of the company to Porsche. Details of the German automaker’s investment in the Croatian electric supercar brand and technology company have yet to be specified, but the writing on the tea leaves point to it revolving around electrification, specifically with high-voltage battery technology and electric powertrains.
Richard Hammond’s Accident Helped Rimac Sell Three Cars The Exact Same Day
It’s been almost a year since The Grand Tour’s Richard Hammond barely escaped with his life after crashing a Rimac Concept One. It was a tumultuous one for a lot of people, but apparently, the crash turned out to be a blessing of sorts for Rimac. Despite losing one of its $2.1 million machines because of the crash, the accident, and the subsequent media exposure it received, helped the company sell three units that same day.
The Rimac C Two is Almost Sold Out and Folks are Averaging $600,000 in Options!
Rimac introduced the C_Two less than a month ago, bringing yet another heavy-hitter into the ongoing battle for EV supercar supremacy. Now, it’s reported that nearly all 150 examples have been scooped up, with an average of $600,000 in options tacked onto the $2.09 million base price.
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Rimac Is Coming For Seconds With Infusion Of Investment Money
Of all the ambitious start-ups that promised machines of mayhem, few have actually been able to step up and keep up with the rest of business. One of those companies is Rimac, the creator of the Concept One electric supercar that made headlines recently when The Grand Tour presenter Richard Hammond crashed one in Switzerland. It was an ignominious end to one of only eight road-going Concept One models, but all’s not lost in the world of Rimac after the company announced a new $36 million investment that would allow it to finally expand its lineup beyond the vaunted Concept One.
The infusion of money came from Camel Group, a Shanghai-based company that’s regarded as the largest manufacturer of batteries in all of Asia. The specific details of the deal were not mentioned by either company, but the deal is termed as a subscription agreement, which essentially means that Rimac likely agreed to sell a certain number of shares to Camel Group in exchange for a specific amount ($36 million as it turns out) that the Chinese company has agreed to pay. Of that amount, Rimac is expected to gain a majority of the funds, but not all of it. Roughly $3.6 million of the amount will be sent over to Greyp electric bicycle company. As far as what Rimac plans to do with the new funds, no less than Mate Rimac, the founder of both Rimac and Greyp, made the company’s plans clear: build a new electric supercar to succeed the Concept One.
Continue after the jump to read the full story.
Unveiled in 2011, the Rimac Concept_One created quite a stir in the supercar world, mainly because of its unique, all-electric powertrain that delivered 1,088 horsepower and a stunning 2,802 pound-feet of torque. Unfortunately, the vehicle never made it into production due to Rimac’s inability to sustain the project financially.
But that could change in the near future, according to the Croatian company, who has announced it is about to sign a €15 million ($20.8 million) deal with investors from South America and Asia, Left Lane News reports.
More than half the sum will be coming from Colombian tycoon Frank Kanayet Yepes, a wealthy investor in the energy industry known for his passion for supercars. He will be pouring €8 million ($11.1 million) into Rimac Automobili in addition to purchasing one of the first Concept_One units.
The remaining cash infusion will come straight from Hong Kong, with mineral company Sinocop Resources paying €5 million ($6.9 million) for a 10 percent stake in the company and a further €2 million ($2.8 million) in stock.
The manufacturer has yet to reveal when the first Concept_One will be completed, but founder Mate Rimac said there are "six cars in the pipeline", with each one to cost about $1 million.
Click past the jump to read more about the Riman Concept_One