Volkswagen sells Bugatti to Rimac Electric Car Co., report says

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Volkswagen is in talks to sell its premium brand Bugatti to electric supercar maker Rimac, according to a new report.

The Bugatti Chiron is capable of reaching a top speed of 304 mph. (Bugatti)

Porsche, a subsidiary of the Volkswagen Group, currently owns 15.5% of the Croatian company and will increase its stake to 49% in exchange for Bugatti, sources told British magazine Car. The automakers have yet to comment on the report.

Rimac was founded by Mate Rimac in 2009. (Rimac)

With Porsche, Rimac has entered into strategic partnerships with Hyundai, Kia and Aston Martin to help them in their electric car efforts. It was founded in 2009 by Mate Rimac, now 32, to develop electric transmission technology and sports cars. Its $ 2 million Concept One launched in 2016 with 1,224 horsepower and a top speed of 211 mph and was followed by the $ 2 million C Two, which the company claims can reach 256. mph.

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The late VW CEO Ferdinand Piëch oversaw the purchase of French automaker Bugatti in 1998 with the aim of building the world’s fastest car. The $ 1 million Veyron was introduced in 2005 powered by a 987 hp V16 engine and delivered on that promise with a top speed of 253 mph, while the successful $ 3 million Chiron established an unofficial mark of 304 mph in 2019.

MONTRE: BUGATTI CHIRON HITS 304 MPH

A Chiron special edition called The Black Car became the most expensive new car in the world when it sold last year for $ 18.9 million.

The VW Group sold 10.8 million cars worldwide in 2019 currently ranks as the third most valuable automaker behind Tesla and Toyota.

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