Rimac to go public in 2022, may take over Bugatti too

Rimac is exploring several options for its future, including eyeing an initial public offering at a valuation of 5 billion euros (RM24.68 billion) in 2022. A spokesperson confirmed that the Croatian electric hypercar maker is going public, but “it hasn’t been decided which direction we will go in.”

According to a Reuters report, Rimac will also take over Bugatti soon, which will be brought into a joint venture with Porsche, which owns a 24% stake in Rimac. Rimac will hold 55% of the JV shares, and Porsche the remaining 45%, Manager Magazin reported.

Porsche CEO Oliver Blume earlier this year said intense discussions on Bugatti’s future were ongoing, and that Rimac could play a role as the brands were a good technological fit. VW Group CEO Herbert Diess has indicated that this won’t be an outright sale – the Bugatti brand will still remain within the VW Group.

Earlier in March, Diess said: “Transferring [Bugatti] to Rimac isn’t true. Porsche is currently preparing a partnership that’s going to be under discussion with Rimac, and Porsche will be taking care of that. The whole thing isn’t yet finalised. 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,” he added.

The decision to have Rimac and Porsche take over Buatti is because Diess believes that “Bugatti will get an environment that’s stronger than being here in Wolfsburg in the volume segment.” It’s a synergistic partnership – the brands involved are experts in carbon-fibre bodies and high-performance batteries, with Rimac having recently developed an electric supercar platform that it supplies to other automakers, including Automobili Pininfarina.

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