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VW and Porsche agree to Bugatti joint venture with EV company Rimac

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Porsche and Croatian electric performance car manufacturer Rimac have agreed to create a joint venture that incorporates Volkswagen’s high-performance Bugatti brand, officials announced Monday.

The new joint venture — called Bugatti-Rimac — is expected to be established as a hypercar manufacturer (think high-end sport car or supercar but better performance and more exclusive) in the fourth quarter of this year.

Rimac will have a 55% stake in the joint venture, while Porsche will hold a 45% stake in the company. Bugatti’s shares will be transferred from Volkswagen, which owns Porsche and Bugatti, to Porsche and then to Rimac, the companies said. Porsche also currently holds a 24% stake…



Source cnbc.com

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