Volkswagen is transferring ownership of Bugatti to a joint venture run by Rimac and Porsche, and controlled by the Croatian firm.
The new company Bugatti Rimac will be formed in Q4 2021, and it will be owned 55% by Rimac and 45% by Porsche.
Porsche in turn owns 24% of Rimac, the second largest shareholder behind founder Mate Rimac on 37%. The Camel Group owns 14%, and Hyundai owns 12%.
Bugattis will continue to be made its factory in Molsheim, France, while Rimac cars will continue to be made in Zagreb, Croatia.
There will be 430 employees in Bugatti Rimac across France and Croatia. The joint venture will be led by Mate Rimac, while Porsche’s CEO Oliver Blume and CFO Lutz Meschke will join the company’s board.
