PREVIEW

Rimac moves to take full control of Bugatti. Mate Rimac, CEO of the Rimac Group, is negotiating to buy Porsche’s 45% stake in Bugatti Rimac, a move that would give him complete control of the iconic supercar brand. The two companies formed the joint venture just four years ago but Rimac says he’s frustrated by what he calls “bureaucracy”, and wants greater freedom to run the business his own way. According to Bloomberg, Rimac offered Porsche about €1 billion — roughly $1.2 billion — for its share back in April. Even if the deal goes through, Porsche would still retain influence, holding a 22% stake in the wider Rimac Group alongside Hyundai Motor Group and other investors. Rimac says the buyout could be completed as early as next year, though he admits there are “many factors” to negotiate especially given the Porsche-Piëch family’s deep emotional ties to the brand.
Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT