Bugatti set to be acquired by EV powerhouse Rimac: Report

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The Volkswagen Group is planning to offer Bugatti to Rimac, according to a new report from the U.K.’s Car. The shock move would see the German giant’s flagship brand transferred to Rimac via Porsche under a deal that would give Porsche greater access to Rimac’s revolutionary EV technology.

Porsche already owns a 15.5 percent share of Rimac but under the bold new move could acquire up to 49 percent of the Croatian company. In return Rimac would get ownership of the ultimate car brand and its state-of-the-art facilities in Molsheim, France.

Despite having only manufactured a tiny number of cars, Rimac is seen as Europe’s answer to Tesla—a real innovator in the EV world, with a host of unique technologies such as its AI Driver Coach and power inverters. Alongside Porsche, Rimac can count Jaguar, Hyundai, Koenigsegg, and Magna as current investors and is said to be valued at around $650 million.

Volkswagen is reportedly keen to offload Bugatti, despite it being former boss Ferdinand Piëch‘s passion project. Mate Rimac visited Bugatti in July, fueling rumors.

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