It is noteworthy that Porsche and Bugatti belong to the German auto giant Volkswagen Group, and the new joint venture called “Bugatti Rimac” is expected to be established as a manufacturer of supercars in the last quarter of this year.Rimac will own a 55% stake in the joint venture, while Porsche will own 45%, and the two companies said Bugatti’s shares would be transferred from Volkswagen to Porsche and then to Rimac. Porsche currently owns a 24% stake in Rimac, up from an initial 10% ownership stake in 2018.
The first cars planned in the joint venture are a Bugatti V8 with a 1,500 hp engine called the Chiron, and an all-electric supercar called the Rimac Nivera, priced at $2.4 million, with 1,900 hp and a speed of 250 mph (400 km/h). These two cars were previously announced separately by the two companies.
Volkswagen, which recently said it would phase out combustion-engine vehicles in Europe and complete this by 2035, wants to focus development resources on the electric vehicle industry.
Italian Lamborghini and Ferrari, McLaren and Aston Martin also plan to make electric supercars in the coming years, according to the American newspaper.