The Croatian electric supercar company Rimac is confirmed to be taking over Bugatti to take the French manufacturer into the future.
The Financial Times reported last week that Bugatti Rimac, will be the future of the much loved Bugatti brand.
Mate Rimac will lead this new company despite having only founded Rimac in 2009 from his garage.
The car manufacturer has since become a very desirable brand, using next generation battery technology to power its hyper cars to immense speeds.
Other car manufacturers having enlisted assistance from Rimac in their own electric vehicle solutions.
The Rimac Nevera Released earlier this year is a 1,914 horse power monster maxing out at 258 mph, and with a 0 to 60 of less than two seconds.
The Bugatti Chiron still holds the record as the fastest production car in the world at 261 mph.
Rimac will hold majority share in the company with a 55% stake, the remaining shares will be held by Volkswagen.
This will be a big change for Bugatti given that Volkswagen has owned majority shareholding in the company since 1998.
Up till now Rimac has supplied components for other car manufacturers including Porsche Hyundai and Bugatti.
“Bugatti and Rimac will both continue as separate respective brands, retaining existing production facilities and distribution channels,” Rimac says.
“Bugatti Rimac represents the company that will develop the future of both Bugatti and Rimac vehicles, by joining resources and expertise in research and development, production, and other areas.”
“This is a truly exciting moment in the short, yet rapidly expanding history of Rimac Automobili,” Mate Rimac said in a statement.
“We have gone through so much in such a short space of time, but this new venture takes things to a completely new level. Rimac and Bugatti are a perfect match in terms of what we each bring to the table. As a young, agile and fast-paced automotive and technology company, we have established ourselves as an industry pioneer in electric technologies.”
So is this an exciting new era for the Bugatti supercar brand, or is it just electric hype that will quickly become outdated?
