Bugatti, Rimac and Porsche announced a new joint venture company earlier this year. Rimac Automobili and Bugatti Automobiles have now commenced operations as part of the newly formed JV – Bugatti Rimac.
The Rimac Group is the major shareholder, with a 55% stake in the JV and Mate Rimac will be its CEO. He will retain his 35% stake in Rimac Group, while Porsche and Hyundai Motor Group will control 22% and 11% respectively. Other investors will control the remaining 32% stake.
Rimac Technology will be a subsidiary of the Rimac Group. It will focus on the development, production and supply of battery systems, drivetrains and other EV components.
Stephan Winkelmann, who has led the French hypercar brand since 2018 has stepped down from the role of President effective November 1, 2021. He will continue to head Lamborghini as the Chairman and CEO of the brand.