Bugatti won’t be transferred to Rimac, Herbert Diess, CEO of Bugatti’s Volkswagen Group parent company, said on Tuesday during the company’s annual general meeting.
Diess’ comments were in response to a question about a report from last September claiming VW Group was looking to transfer Bugatti to Rimac in return for a bigger stake in the Croatian electric-vehicle technology company. VW Group through its Porsche subsidiary already owns 24% of Rimac.
Diess said responsibility for Bugatti is being transferred to Porsche which in all likelihood will discuss establishing a partnership with Rimac in regards to Bugatti. Diess said the partnership could entail a joint venture between Rimac and Porsche to oversee Bugatti, with Porsche having the smaller stake.
“Porsche is currently preparing a partnership that’s going to be under discussion with Rimac, and Porsche will be taking care of that,” he said. “What we want to do is transition responsibility of Bugatti to Porsche, and Porsche in all probability will establish a joint venture with Rimac, with a minority share of Porsche.”
Diess stressed that nothing has been finalized.
Diess’ comments come just weeks after Porsche CEO Oliver Blume said Bugatti and Rimac were a good fit. Blume also said that various scenarios were being discussed for Bugatti and that he believed a solution would be reached within the first half of 2021.
Sadly, any tie-up between Bugatti and Rimac will likely mean the 8.0-liter quad-turbocharged W-16 Bugatti currently uses to power its cars will be phased out at the end of the Chiron’s product cycle, currently estimated to be around 2024.
Although VW Group has not yet committed to a fixed date for the end of the internal-combustion engine, the automaker aims to be the global leader for electric vehicles by 2025 at the latest. With Bugatti being a halo for the company, it makes sense the hypercar brand will also be electric by this date.