Rimac, an electric hypercar company, will take control of Bugatti's Volkswagen supercar brand as part of a joint venture. Porsche is also owned by Rimac. Bugatti Rimac and Rimac will share expertise and resources, but they will remain independent brands with their own production lines and distribution channels as part of the new company called Bugatti Rimac.Bugatti will be able, once the joint venture is in operation, which is likely to occur later this year. Rimac's expertise in electric vehicles (EV) will also be available to Bugatti, allowing it to continue its tradition of making electric cars. Rimac can, in turn, tap into the expertise of Bugatti which produces the Bugatti Veyron, the fastest street-legal vehicle on the planet.Rimac will control 55 percent of Bugatti Rimac, while Porsche will retain the rest. After an initial investment of 10 percent in 2018, Porsche now owns 24 per cent of Rimac.Rimac Group has created Rimac Technology to manage "development, production, and supply of battery systems and drivetrains as well as other EV components."Bugatti Rimac will have its headquarters in Zagreb (Croatia), where Rimac is located. Rimac Campus, a 200 million euro ($237.3 million), is due to open in 2023. It will serve as the research and development center for Rimac and Bugatti hypercars.
