Mate Rimac, the 37-year-old founder of Rimac Automobili and co-owner of Bugatti, has expressed his intention to purchase Porsche’s 45 percent stake in the Bugatti-Rimac joint venture. In an interview with Automotive News, Rimac emphasized the desire to make long-term decisions and investments without having to answer to multiple stakeholders.
“We are in discussions,” he revealed, highlighting the complexities involved in negotiating with a corporation. He added, “When you negotiate with a corporation, there are so many factors… it’s an emotional topic.”
The Bugatti-Rimac joint venture, established in 2021, sees Rimac holding a 55 percent share while continuing operations in Croatia, with Bugatti’s production remaining in France. This partnership aimed to leverage synergies between the two brands, yet Bugatti’s latest model, the Tourbillon, has opted to maintain a petrol engine instead of transitioning to electric power. In contrast, Rimac’s lineup is firmly rooted in electric vehicles, with no current plans to veer off this path.
Earlier this year, Rimac made an initial offer for Porsche’s stake, estimated at roughly €1 billion (A$1.8 billion). However, negotiations face challenges, as Porsche is under the control of the Porsche-Piëch family, which has also faced financial hurdles, including diminished demand for electric vehicles and falling sales in key markets such as China and the U.S.
Rimac is aiming to finalize the buyout by 2026, which would mark the first time since Bugatti’s modern inception in 1998 that the Volkswagen Group would no longer hold any ownership in the storied brand. This potential shift may open up new opportunities and directions for both Rimac and Bugatti, aligning more closely with rising trends in electric mobility and innovation.