Why is Rimac CEO of Bugatti?
The two brands were united under the business decision of porsche, giving control of bugatti to mate rimac and in return receive more share in rimac group, which includes rimac technology, a company that develops batteries and powertrains. Through this rimac group owns 55% and porsche 45% in bugatti rimac. In 2021 the volkswagen group sold its stake in bugatti, with rimac taking a 55 per cent share and porsche the remaining 45 per cent, forming bugatti rimac in the process.Porsche has sold its stake Bugatti-Rimac which means no more Volkswagen in Bugatti. Porsche has sold its interests in both Bugatti Rimac and the Rimac Group to a New York-based investment firm in order to focus on its “core business”, the sportscar-maker confirmed.Porsche has boosted its stake in EV hypercar maker Rimac from 15. The latest injection is Porsche’s third into the nascent Croatian manufacturer, following an initial acquisition of a 10% stake in 2018, before boosting that by more than half the following year.