CM – Has Porsche just taken over Rimac?

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How many Rimacs have you actually seen on the city streets since the company was founded 12 years ago? Somewhere there should have been « a handful of deliveries » of the Nevera (formerly C_Two), but apart from a lot of tests and prototypes you could count the number of Rimacs in the customer workshops on one hand, maybe two.

This hasn’t stopped large automakers from scrambling on top of each other to invest in the company for access to its EV technology. And there are many owners. The Rimac Group itself is owned by Porsche (24%), Hyundai (12%), founder Mate Rimac (37%) and other investors who own the remaining 27%. The Rimac Group is divided into Rimac Technology, which is 100% owned by the Rimac Group, and the new Bugatti Rimac. The Rimac Group owns 55% of Bugatti Rimac, while Porsche owns 45%. On the face of it, today’s announcement means that the new Bugatti Rimac company will be 55 percent controlled by Rimac, with Rimac founder Mate Rimac as CEO, and that Bugatti will control 45 percent. But remember that Porsche, which is part of Volkswagen and which also includes Bugatti, already owned 24 percent of the Rimac group and now owns 64 percent with 45 percent announced today. Porsche chairman Oliver Blume and deputy chairman Lutz Meschke will both be members of the supervisory board of the new joint venture. So is this really an announcement that Porsche is now in charge of Rimac? Calls to Bugatti and Porsche for clarification have not yet come back.

Whatever the case, the bigger news could be that the world is going electric. In doing so, automakers are looking for the certainty that they can actually make something electric that goes on the road. The number of electric car manufacturers is currently low. In the US, it’s Tesla (Lucid, Rivian, etc. haven’t sold any cars yet). In Europe, it’s Rimac, even if Rimac hasn’t done much beyond R&D so far. The future of hypercars will certainly be electric at some point. To get to this point, automakers are looking to build alliances that will make the transition work better.

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