Bugatti Rimac Officially Begins Operations, Mate Rimac’s Role Revealed

Daniela Rogulj

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The new company joins the forces of Rimac and Bugatti, which together continue with breakthroughs in the automotive and technology industries. Establishing the new company, which unites the two brands, is supported by the sports car manufacturer Porsche AG and one of the largest car manufacturers in the world, as well as the current owner of Bugatti – Volkswagen AG, reports

“After a short but turbulent 10-year history of Rimac Automobili since its inception in the garage, we come to the next big step for the company – merging with Bugatti into the newly established company Bugatti Rimac, which becomes part of the Rimac Group,” the statement said.

Rimac Group will be the largest shareholder of Bugatti Rimac with a 55 percent stake.

Mate Rimac will retain his stake in the Rimac Group at 35%, Porsche at 22%, Hyundai Motor Group at 11%, and other investors at 32%. The development and production of battery systems, powertrains, and other components for high-performance electric vehicles, for which Rimac is known and trusted by many car manufacturers, will be separated into a new unit – Rimac Technology, which will be 100% owned by the Rimac Group.

“Bugatti Rimac combines the uniqueness of two automotive and technology pioneers. Rimac Automobili’s entrepreneurial approach and technical expertise, and innovations in high-performance electric vehicles, together with Bugatti’s 112-year legacy in design and engineering and the production of some of the world’s most famous hypercars, are now combined. Porsche will act as a strategic partner and appoint two members of the Supervisory Board: Oliver Blume, President of Porsche AG, and Lutz Meschke, Vice President and Chief Financial Officer of Porsche AG.

Mate Rimac’s previous leadership and strategic direction, which led to Rimac Automobili becoming a significant player in the high-performance electric car industry, highlights him as an ideal candidate to lead the new company as CEO. As CEO of the Rimac Group, Mate Rimac will lead both Bugatti Rimac and the new division, Rimac Technology.”

The global headquarters of Bugatti Rimac is located in the current headquarters of Rimac Automobil in Sveta Nedelja, on the outskirts of Zagreb. Still, in time it will move to the recently announced Rimac Campus, also to be home to Rimac Technology, worth more than 200 million euros, on 200,000 m2, under construction in Sveta Nedelja. 

Joint research and development of future Rimac Automobili and Bugatti hypercars will ultimately occur at the Rimac Campus – which is scheduled to open in 2023. As part of the new company, Bugatti Rimac will start operating with 435 employees, of which 300 will be based in Sveta Nedelja and 135 in Molsheim, France.

In addition, 180 people at the Bugatti Engineering site in Wolfsburg will support the new company, which will be integrated into the Bugatti Rimac office in Germany. Rimac Technology will have over 900 employees. Rimac Group will thus consist of more than 1300 workers at various locations.

Bugatti Rimac’s new Board of Directors appoints Christophe Piochon as Chief Operating Officer (COO). He previously served as General Manager at Bugatti and guarantees the continuation of operations at the Molsheim plant. Larissa Fleischer becomes CFO. Previously, she was the head of control at Porsche in digitalization and the development of new business models. In addition, Emilio Scervo has been appointed Chief Technology Officer (CTO) and previously held the same position at Rimac Automobiles, where he joined after a prosperous career as technical director at Aston Martin, McLaren, Mercedes AMG, and Ferrari.

Rimac Automobili and Bugatti will continue to operate as separate brands and manufacturers, retaining their production facilities in Zagreb and Molsheim and distribution channels.

Rimac Technology will continue to innovate, developing vehicle systems and technologies for many global car manufacturers, with the application of the technology in future Bugatti and Rimac models as well.

Commenting on the first day of Bugatti Rimac’s business, Mate Rimac, CEO, says:

“I am honored to be leading this new fusion of automotive minds and begin what will no doubt be a successful, revolutionary and exciting new chapter for everyone involved. I am also extremely curious to oversee the profound impact Bugatti Rimac will have on the industry, and I look forward to developing innovative new hypercars and technologies.”

“It’s difficult to find a better match than Rimac and Bugatti. What each party brings to the table in terms of technical expertise, know-how and automotive history makes for an electrifying recipe. Rimac’s fast-paced operations and electrification skills are the perfect complement to Bugatti’s exceptional heritage and craftmanship. Stay tuned for some truly extraordinary projects in the future.”

“I am convinced that we have found the right mix of experience and know-how, innovative strength and team spirit for the management,” says Lutz Meschke, Deputy Chairman of the Executive Board and member of the board for Finance and IT at Porsche AG. “That’s why I’m very optimistic. And because the project is very close to my heart, I will continue to accompany it closely and passionately in the future.”

Oliver Blume, Chairman of the Board of Management at Porsche, names this merger as “the perfect solution” for everyone involved: “Together, we are creating a high-performance automotive company. We have succeeded in positioning the traditional Bugatti brand with its charisma for the future in a way that creates value. Bugatti embodies fascination and passion, and Rimac has great innovative strength and tech expertise.” 

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