Rimac in talks to buy out Porsche’s stake in Bugatti

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