According to a new report, Bugatti is being acquired by EV specialists Rimac with Porsche taking a bigger stake in the Croatian firm in exchange.
Back in 1998, Volkswagen went on a spending spree as Ferdinand Piech sought to move the VW Group upmarket and bought Lamborghini, Bentley and Bugatti in the space of a few months.
But the car world is in a very different place now than it was in 1998, and VW, having suffered severe financial blows from Dieselgate, is busy re-inventing itself as a maker of mass-market EVs. And it’s up to its eyes in debt at the same time as having to fund the biggest transition in motoring history.
So it looks like VW is doing what we all try to do when a new direction is needed and money is tight, and grab as much cash as we can to fund from trinkets bought in better times. Although actual cash may not be the first move.
According to Car Magazine, VW has agreed to part with Bugatti to Croatian EV magician Mate Rimac’s eponymous company in a deal said to consist of Porsche upping its stake in Rimac from 15.5 per cent to 49 per cent. Which would value Bugatti at just one third of Rimac
If the report is true, and it smells right, then you can see VW getting its hands on some very advanced EV magic from Rimac, and Bugatti going electric.
But it seems it’s not just Bugatti which VW are looking to offload, but Bentley, Lamborghini and more as they slim down and focus on making EVs the future.
According to Car Magazine, the deal is done and just waiting to be signed-off by the supervisory board.