The Rimac Automobili company has decided to combine forces with the automotive brand Bugatti Automobiles "to create a new automotive and technological powerhouse" called Bugatti Rimac d.o.o. (in English – LLC), the Sveta Nedelja-based company reported on Monday.

“As part of the deal, the newly-formed Rimac Group will be the major shareholder with a 55% stake,” reads the press release.

“Mate Rimac will retain his original shareholding in Rimac Group at 37%, with Porsche at 24%, Hyundai Motor Group doing the same at 12% and other investors at 27%.

“The development, production and supply of battery systems, drivetrains and other EV components that Rimac is known for and trusted by many automotive manufacturers will be separated into a new entity – Rimac Technology, which will be 100% owned by the Rimac Group. Rimac Technology will remain an independent company working with many global car manufacturers,” the Sveta Nedelja-headquartered company reported.

“Mate Rimac will lead the new company. As CEO of Rimac Group, he will run both Bugatti Rimac and the new division, Rimac Technology. Bugatti and Rimac will both continue as separate respective brands, retaining existing production facilities and distribution channels. 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.

“Rimac Group will continue to innovate, creating both its own hypercars, as well as developing systems and technologies for many global OEMs. Such innovative technology can also be deployed in future Bugatti and Rimac models.

“Both brands will continue to operate independently, with Rimac Automobili retaining its current premises on the outskirts of Zagreb, Croatia and Bugatti production continuing in Molsheim, France.

“In time, Bugatti Rimac’s global headquarters will be situated at the recently announced Rimac Campus, also serving as the home of Rimac Technology,” reads the press release.

“The €200M, 100,000m2 campus, due to open in 2023, will be the base for all research and development of future Rimac and Bugatti hypercars. With high-tech innovation at its core, the state-of-the-art site will accommodate 2,500 like-minded people driven by curiosity and a desire to push things to the absolute limit,” the company said, among other things.