The Bugatti and Rimac brands are two automotive brands that are attached to speed, as well as the premium side. Although the two have different approaches, Bugatti with a conventional V12 engine and Rimac with an electric motor, this latest news proves these differences can be combined.

Oliver Blume, Chairman of the Executive Board at Porsche AG, and Mate Rimac, CEO of Rimac, have signed the agreement and announced the name of the new hypercar manufacturer, Bugatti-Rimac. The new company will be headquartered in Zagreb (Croatia) and is scheduled to be officially established in the fourth quarter of 2021.

Rimac will hold a 55 percent stake in the Bugatti Rimac Joint Venture, while Porsche, together with Bugatti under Volkswagen, will own a 45 percent stake. Porsche itself already holds a 24 percent stake in Rimac directly.

A little story, Bugatti S.A.S is a company owned by the German automotive company Volkswagen Group. This brand has been around since 1909, and only in 2000 was it taken over by Volkswagen. The brand concentrates on ultra-premium cars with engine capabilities capable of breaking ground speed records.

Meanwhile, Rimac Automobili is a Croatian company that is famous for developing electric car models. Rimac was founded in 2009 by Mate Rimac, with its first model, Concept One, being crowned the fastest electric car in the world. So indeed, the DNA of the two brands is very similar.

The last Rimac model is the Nevera which is based on the C_Two concept model. This car uses four electric motors at each wheel and produces a total power of 1,914 HP and 2,300 Nm of torque. The carbon fiber body construction results in a total weight of 1,950 kg, including the heavy battery packs. The Nevera claims to be able to accelerate from 0–97 km/h in 1.85 seconds and achieve a top speed of 415 km/h

Both parties are optimistic that they will present an attractive company in the automotive world, especially in hypercar technology with electric motors. Rimac, despite being a relatively young brand, has managed to produce innovative models in the field of promising electric mobility. Bugatti itself is a brand that has been proven to be rich in tradition, iconic products, loyal customers, and dealers in various countries.

The new company is planning to introduce new products soon. Two hypercar models will be produced, namely the Bugatti Chiron and the all-electric Rimac Nevera. Bugatti itself continues to exist through Bugatti Automobiles S.A.S but will also be in this new company to develop exciting products in the future.

In the future, all Bugatti models will still be produced at the Bugatti factory in Molsheim, France. This production facility is world-renowned for its perfectionism and excellence in design and craftsmanship. The jointly developed Bugatti model is planned for the long term.

Rimac welcomes this new partnership positively. Both brands come with their respective strengths; Bugatti is very well versed with high-end car development, while Rimac is present as a pioneer in the electric technology industry.

Going back to the previous few years, Porsche had already successfully established a partnership with Rimac in 2018 by buying part of its shares. Porsche plays a vital role in the joint venture as a strategic partner. When established, the joint venture will have approximately 430 employees, about 300 at the company's headquarters in Zagreb and 130 at the Bugatti site in Molsheim.