Mergers are nothing unusual in the automotive world. A larger group does have its advantages, which is why major carmakers such FCA and PSA merged to form Stellantis. Just recently, European hypercar makers Bugatti and Rimac merged together to form a new company that bears their names, Bugatti Rimac.
Bugatti Rimac Brings In Porsche AG As Strategic Investor
The new company started its new life on November 1, 2021 as Bugatti Rimac d.o.o., marking a new chapter for both brands. According to the companies’ respective press releases, Bugatti Rimac combines Bugatti’s strong expertise in the hypercar business with Rimac’s innovative strength in the field of electric mobility. Bugatti and Rimac remain as independent brands, retaining their respective production sites and respective sales channels.
The Rimac Group holds a 55% stake in the newly formed Bugatti Rimac, with Porsche AG taking the remaining 45% via Volkswagen AG. Both Bugatti and Porsche AG are wholly owned subsidiaries of VW AG. Porsche AG previously held a 24% stake in Rimac, and holds 45% today.
Mate Rimac Sits On Top Of Management Structure
Mate leads Bugatti Rimac’s management board as Chief Executive Officer. Former Director General at Bugatti, Christophe Piochon ,is the new Chief Operating Officer. Former Director of Controlling for Digitalization at Bugatti, Larissa Fleischer, is the group’s new Chief Financial Officer. Former Chief Technology Officer at Rimac, Emilio Scervo, holds the same position at Bugatti Rimac.
On Bugatti’s side, the position of president now belongs to Piochon, who replaced Stephan Winkelmann. Stephan now focuses on his role as president and CEO of Lamborghini. Mate Rimac continues as the top honcho of the Rimac Group. Porsche AG has two members in Bugatti Rimac’s supervisory board: Oliver Blume (chairman) and Lutz Meschke (deputy chairman and CFO).
Bugatti Rimac To Have New Home In 2023
At the time of the merger until 2023, Bugatti is holding its global headquarters at Rimac’s current base in Sveta Nedelja, Croatia, just outside of Zagreb. The new company, however, will transfer to the $200-million Rimac Campus once it completes its construction in 2023. Measuring 200,000 sqm, the new site will be home to around 2,500 people employees.
Bugatti Rimac currently has around 435 employees, 300 in Croatia and 135 in Molsheim, France. Production of Rimac and Bugatti models remains at their respective sites in Sveta Nedelja and Molsheim.
Source: Bugatti, Porsche, Rimac