SUPERBRAND EV BUGATTI RIMAC APPOINTS NEW CEO
Mate Rimac appointed CEO of premium electric car company, Bugatti Rimac.
Porsche, Bugatti, and Rimac are writing a new chapter in the history of the automotive industry. Less than four months after it was first announced, one of the automotive world's most exciting collaborative projects has left the initial grid.
The joint Bugatti-Rimac venture will be based in Sveta Nedelja (Croatia). Its CEO will be Mate Rimac, pioneering electric hypercar, Founder, and CEO of Rimac Automobili. Porsche AG will play a leading role as a strategic partner.
The Chairman of the Executive Board of Porsche, Oliver Blume, and the Deputy Chairman and Member of the Executive Board responsible for Finance, Lutz Meschke, will sit on the Board of Trustees. Bugatti Rimac will be owned by Rimac Group (55 percent) and Porsche AG (45 percent). Within the cooperation framework, Bugatti and Rimac Automobili will continue to operate as independent brands and manufacturers and maintain their respective production sites in Zagreb (Croatia) and Molsheim (France) as their distribution network.
The current CEO of Bugatti, Stephan Winkelmann, stepped down from his position on October 31, 2021, to focus on his role as President of Lamborghini. “This merger is the perfect solution for everyone involved. Together, we form a strong automotive company," said Blume.
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“We have succeeded in adding value to the prestigious and traditional Bugatti brand by being more future-oriented. Bugatti symbolizes charm and passion; Rimac is an innovator with considerable technical expertise. We would like to thank Stephan Winkelmann for his outstanding contribution. He has done a great job.”
In addition to Mate Rimac, the new management team includes Christophe Piochon, former production manager and joint managing director of Bugatti Automobiles. Piochon will be the Chief Operating Officer of the combined company. Production will continue at the long-established location in Molsheim, Alsace, world-renowned for its excellence and excellence in design and craftsmanship.
Larissa Fleischer will be the Chief Financial Officer. He is the director of control at Porsche for the digitization and development of new business models. Emilio Scervo, previously a chief engineer at McLaren, will take over as Chief Technology Officer.
“I believe that within our management team, we have brought together the perfect mix of experience and expertise, innovation and team spirit,” said Meschke. "I am therefore very optimistic and, as this project is very close to my heart, I will continue to provide full and strong support."
Internally at Porsche, the combined effort was referred to as Operation Rush. “As the name implies, everything goes really fast,” explains Meschke.
Porsche became a stakeholder in Rimac in 2018 and has continued to increase its involvement since then. “Our strategic investment chain is now reaching a successful conclusion. To begin with, strong belief is required in many areas. The final task is to overcome organizational hurdles. The teams in Zagreb, Molsheim, Wolfsburg, and Stuttgart have worked very hard and are sure to lead the new company towards a bright future,” said Meschke.
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The launch of the Bugatti Rimac joint venture is another big step for future CEO Mate Rimac – just twelve years after his start-up was founded in a garage. “I am honored to lead this new mix and embark on what will no doubt be a successful, revolutionary, and exciting new chapter for everyone involved,” said Rimac.
“It is difficult to find a better partner than Rimac and Bugatti. Rimac's fast operation and electrification skills are the perfect complements to Bugatti's outstanding heritage and craftsmanship. Look forward to some truly amazing projects in the future.”
Bugatti Rimac has its headquarters in Sveta Nedelja, near Zagreb. The move to Rimac's new campus, which is currently under construction at the cost of €200 million, is planned for completion in 2023. It will also host an R&D facility with Bugatti Rimac. Approximately 2,500 people will work on a site covering an area of 200,000 square meters.
At the same time, all Bugatti models will continue to be produced at the factory in Molsheim. Therefore, the work on this site is protected for the long term. The Bugatti Rimac joint venture will start with approximately 435 employees; about 300 are based in Zagreb and about 135 in Molsheim. This positioning serves to maintain and build on the attractive strengths of the Bugatti and Rimac brands.
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