Mate Rimac, CEO of the Rimac Group, is in talks to buy out Porsche’s stake in its joint venture Bugatti Rimac.
In a recent interview with Bloomberg, Rimac said that he has the investors necessary to take complete control of the hypercar brand. “I just want to be able to make long-term decisions, to make long-term investments, and to do things in a different way, without having to explain to 50 people,” Mate said.
Reports suggest that Rimac has even made an offer of around $1.2 billion to Porsche, which currently owns a 45% stake in the joint venture.
Bugatti Rimac was established in 2021. Besides being a shareholder in the joint venture company, Porsche also holds a stake in the Rimac Group. Among other investors is the Hyundai Motor Group.
Source: Automotive News
