The planned sale of the VW subsidiary Bugatti to the Croatian electric super sports car maker Rimac has been delayed. Now a construct with Porsche should enable the transaction.
“Complex transactions sometimes take a little longer,” said company boss Mate Rimac of Automobilwoche. He could not provide any information on details, but only formalities had to be dealt with. Originally, a decision to sell should be made in the first half of the year, now the deal should not be concluded before the summer break at the end of July.
At the moment there is apparently a problem with the Bugatti employee representation at the Molsheim site in France. Around 130 people are employed there and assemble the super sports cars in a small factory. The works councils in France have extensive say in the event of a change of ownership.
Porsche is to take over Bugatti
The most likely solution is that Porsche will take over Bugatti, then set up a joint venture with Rimac and keep a minority in it. Rimac aims to lead Bugatti into an electric future. The value for Bugatti is in the three-digit million range. In return, Porsche would have in-depth access to Rimac’s technologies. The Stuttgart already hold a share of 24 percent. “It’s a win-win situation,” they say at Porsche.