Bugatti will be taken over by Rimac Automobili, a Croatian supercar startup. According to the Financial Times, Rimac will control 55% of Bugatti-Rimac's new company. VWs Porsche will hold the remaining 45%.Mate Rimac (founder and CEO of Rimac) stated that Bugatti and Rimac are perfect matches in terms of the different skills they each bring to the table. We are a fast-paced, young and agile automotive and technology company that has established itself as an industry leader in electric technologies. We have proven with the Nevera that we are capable of creating and manufacturing exceptional hypercars that are both fast and exciting. Bugatti has a rich heritage that spans over 100 years of engineering excellence.The Nevera is a hypercar powered with a 120kWh battery pack and four engines to produce a remarkable 1.4MW of power. This is approximately 1,914 horsepower. The Nevera can accelerate from 0-60 mph in 1.85 seconds, and can reach a maximum speed of 258 miles per hour. The Nevera will be the fastest sports car in the world, surpassing the Bugatti Chirons.Rimac's rapid rise from bootstrapping in his garage in 2009 to building luxury supercars for one of the most prestigious and well-known brands in the car industry shows how electric cars are starting to dominate the luxury and sports car markets. It's more than just doing the right thing for the environment, it's about being a pioneer in the future of automobiles.Rimac also announced that it will separate the development, production, and supply of battery systems and other EV components in a new Rimac Group entity called Rimac Technology. This new entity will be independent from other global car makers.Bugatti-Rimac's formation does not affect Rimac Group's shareholder structure. According to the company, Mate Rimac will still hold 37% of Rimac Group's shares, while Hyundai Motor Group holds the remaining 12% and other investors at 27%. According to the companies, Porsche increased its stake in Rimac from 15 percent to 24% but it does not have a controlling stake in the new EV company.Mate Rimac will head Bugatti-Rimac. The company will be based in Zagreb (Croatian). Bugattis production will continue in Molsheim France.
