Mate Rimac on the Acquisition of Bugatti: This is Something I Could Never Have Dreamed Of

If someone had told me 12 years ago that this would happen, I wouldn’t have believed them, said Mate Rimac tonight in Dubrovnik, officially announcing that Rimac Automobili is acquiring Bugatti.

– It started with just me in the garage. When we presented the Concept One, there were 11 of us. Last year we surpassed 1000 employees, and Nevera is the realization of my vision. I always wanted to do this in Croatia and prove that it can be done here. As the saying goes, everything is impossible until someone does it – said Rimac.

As announced this afternoon, Mate Rimac’s company is becoming the majority owner of Bugatti. Rimac Automobili will become Rimac Group, divided into two companies – Bugatti Rimac and Rimac Technology, with the group’s headquarters in Croatia. The first company will focus on the production of hypercars under the Bugatti and Rimac brands, while the second will develop technology for other car manufacturers.

Rimac recalled how in 2018, Porsche decided to invest in his company.

– They were a great support to us, not only on a business level but also on a personal level – emphasized Rimac.

– A month ago we presented Nevera, designed by us from the start. Nevera is, just like the Mediterranean storm after which it is named, a powerful and unpredictable force of nature. With Nevera, we have redefined what cars can do. However, we are new in this business, and few have historically redefined what is possible like Bugatti. Being here, sharing the stage with friends from Bugatti and Porsche, is something I could never have dreamed of – said Rimac.

– I will become the CEO of Rimac Group. Bugatti and Rimac will continue as separate brands. The incredible legacy of Bugatti will not be disrupted. Our new campus in Croatia will, when completed, be the new home of Bugatti. Batteries will be produced in Croatia for Bugatti and Rimac cars – said Rimac.

Lutz Meschke, Deputy Chairman and CFO of Porsche, emphasized that today is a good day for Rimac, Bugatti, and the Porsche Group.

– It took a long time to come up with the new structure of the new company, and we had to convince the shareholders. We are confident that we have achieved a good result – said Meschke, adding that this secures the future of Bugatti.

The joint company is the culmination of the investment process that began in 2018 with the then-young Croatian company Rimac Automobili.

– Mate Rimac is an exceptional entrepreneur; there are not many like him in the automotive industry. He is relaxed and serious at the same time. Despite his exceptional success, he has remained firmly grounded. Mate, never change – Meschke said.

He highlighted that Porsche’s investment in Rimac Automobili has proven to be extremely successful and that Rimac is on the path to becoming one of the main technology suppliers for Porsche. He stated that Mate Rimac will lead the Bugatti Rimac brand into a very successful future, which will also bring great benefits to Croatia.

– Today is a big day for the automotive industry – said Oliver Blume, CEO of Porsche. He emphasized that they greatly value Mate Rimac and his team as they are reliable partners and technology manufacturers. – That is why Porsche acquired a 25 percent stake in Rimac Automobili. We at Porsche want to permanently secure the future of the brand. Bugatti brings a strong, established brand, and extensive experience in the hypercar business. Rimac contributes with its immense power of innovation, fresh approach to development, and organization. Both partners will benefit equally from this collaboration. All of this contributes to a business plan that is sustainable for the future – said Blume.

As announced, the new company will initially produce Bugatti Chiron and Rimac Nevera. Then it will move on to the production of hybrid cars.

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Mate Rimac announces the acquisition of Bugatti in Dubrovnik

photo Screenshot Youtube

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