Rumors have circulated since last fall that Volkswagen Group could end up selling its Bugatti hypercar brand to Rimac, and now the CEO of fellow VW Group brand Porsche has made comments that add credibility to the possibility.
“At the moment there are intense deliberations on how Bugatti can be developed in the best possible way; Rimac could play a role here because the brands are a good technological fit,” Porsche CEO Oliver Blume told Germany’s Automobilwoche (subscription required) in an interview published Sunday.
Blume, who is also a member of VW Group’s management board, said there are “various scenarios” being discussed and that he believed a solution will be decided upon within the first half of 2021.
Porsche already owns 15.5% of Croatian electric-vehicle technology company Rimac, but CAR reported last Sept. that Porsche’s stake could be increased to 49% in a deal that would see Bugatti sold to Rimac.
Rimac CEO Mate Rimac with Porsche Taycan
The move would give VW Group leading EV technology to rival Tesla. Rimac is also a leader at software development, including in the areas of connectivity, self-driving systems, and systems integration.
In return, Rimac would have a prestigious brand to promote its cutting-edge, high-performance EV technology. It would also gain Bugatti’s advanced production facility in Molsheim, France.
Hyundai Motor Group also owns about 14% of Rimac while CEO and founder Mate Rimac has the biggest stake at just over 47%.
Blume’s latest comments come just a week after Germany’s Manager Magazin reported that VW Group is considering a Porsche spinoff. According to the report, VW Group is considering floating up to 25% of Porsche to raise funds for its extensive EV and software development programs.