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This is pretty interesting news, Rimac is set to buy Bugatti from Volkswagen Group.

The move affects Porsche in a big way because in exchange for Bugatti Porsche will get a larger stake in Rimac. Which could mean more developments in their EV tech.


Rimac isn’t yet publicly traded, with the founder holding a 51 per cent majority interest. But there is an enormous buzz around the company – the last funding round pegged its value north of £500m. The biggest secondary shareholders are Porsche, the Camel Group (a Chinese battery producer) and a Chinese investor. While the true value of Rimac is yet to-be-determined by an IPO, Bugatti is probably worth €500m in today's depressed market. But perhaps there is no need for any money to flow at all in the deal.

In an ideal world, Porsche would swap the hypercar-maker lock, stock and barrel for a bigger share of the Rimac action. How big? The target is 49 per cent, which could be a tough nut to crack, but the Germans are keen on accessing as much know-how and brain power as they possibly can.

In exchange, the 32-year-old entrepreneur would obtain the Bugatti brand and the related infrastructure which looks like the perfect stepping stone for that tiny-volume C-Two hypercar. In July, Rimac paid a visit to Bugatti in Molsheim - and reportedly walked away impressed...

If the supervisory board signs off the agreement, the current Bugatti CEO Stephan Winkelmann is unlikely to stay. When asked for comment, neither Winkelmann nor the Porsche boss Oliver Blume replied. We also approached Bugatti's communications department for comment; a spokesperson declined to comment on the rumours, but said that the brand had been 'a positive contribution to the Group for the past two years' and that the brand was 'on track to exceed 2019's sales.'
 

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Porsche has increased its stake in Rimac. They now own 24%


Green light for the further expansion of electric mobility: The Supervisory Board of Porsche AG agreed on Friday to increase its stake in Rimac Automobili from 15 to 24 per cent.

The Croatian company develops and produces high-tech components for electromobility, including high-performance drives and battery systems. It also produces electrically powered super sports cars. Porsche joined the young technology and sports car company as an investor in 2018 and increased its stake to 15 per cent in September 2019. The latest capital increase illustrates the expansion of the strategic partnership. Porsche is investing additional 70 million Euros. This means that the sports car manufacturer will hold 24 per cent of the shares without exercising a controlling influence.

“Rimac is excellently positioned in prototype solutions and small series,” says Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG. “Mate Rimac and his team are important partners, especially when it comes to supporting us in the development of components. Rimac is well on its way to becoming a Tier 1 supplier for Porsche and other manufacturers in the high-tech segment. Porsche has already placed its first orders with Rimac for the development of highly innovative series components,” says Meschke. Both sides will benefit from this enhanced level of cooperation in the future, he emphasises: “Mate Rimac inspires us with his innovative ideas. By the same token, he benefits from our know-how in production and methodological expertise in development.”

Increased investment in young companies with potential
Porsche has for many years been stepping up investment in young companies with potential. It currently has stakes in more than 20 start-ups and eight venture capital funds. “Our investment in Rimac has turned out to be absolutely right,” Meschke says. “The value has increased many times over since our initial investment. The company has developed very well technologically. We are expanding our cooperation step by step and are also benefiting from Rimac's strength in innovation."

Company founder Mate Rimac welcomes the fact that Porsche steps up its commitment. "Porsche has been a big supporter of our company since 2018, and it has always been a privilege to have one of the world's most iconic sports car brands be a part of Rimac,” he says. “We're proud to work together on exciting new electrified products. With many car manufacturers across the world being Rimac customers, it is important, both for Rimac and Porsche, that we remain an entirely independent business. The partnership with Porsche helps the company develop and grow which is beneficial for all of our customers."

Mate Rimac founded the company named after him in 2009 at the age of 21. Even prior to that, he had a vision of the electric-powered super sports car while still at school and university. Based in Sveta Nedelja near Zagreb, his company now has a workforce of nearly 1,000. Rimac designs, develops and manufactures electric hypercars with up to 2,000 hp and a top speed of more than 400 km/h. The company also supplies technologies and systems to several well-known manufacturers of electric cars.
 
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