Volkswagen Group Allegedly Selling Bugatti To Rimac
Between the Nissan Z Proto, the upcoming Hyundai Tucson and the Ferrari Portofino M, it’s safe to say that we’ve had some pretty big news this week. The biggest of all, however, might not be about a new model, as this week’s headliner could be an acquisition. We use “could”, because nothing is official at this point, but Automotive magazine reports that the Volkswagen group has decided to offload the elite Bugatti brand to Rimac Automobili.
According to sources familiar with the matter, the deal was approved by VW executives last week, but the supervisory board has yet to give its proverbial approval. Part of Bugatti would still technically have ties to the VW Group, given that Porsche owns a 15.5% stake in Rimac. In addition, Automotive magazine reports that the deal with the Croatian hypercar brand would require Porsche to take a bigger stake in Rimac.
Apparently the VW Group is no longer keen on pouring money into the Molsheim-based brand following Ferdinand Piech’s departure from the conglomerate in 2015. He died in 2019, with Lamborghini paying homage to him by renaming his first model. production unit electrified in Sian FKP 37 after his initials and the year of his birth – 1937.
Automotive magazine points out that the Piech family still owns 50% of the majority stake in the VW group, and that the only way to convince them to sell Bugatti would be to make Porsche a beneficiary of the swap. The ultimate goal is for the Stuttgart brand to increase its share of Rimac to 49%. In recent years, Hyundai / Kia, Koenigsegg, Jaguar and Magna have also invested in a company that was born only 11 years ago.
But wait, there is more. Bugatti is apparently not the only brand under the VW Group’s huge umbrella that could be sold. The report goes on to say that Lamborghini, SEAT, Italdesign and Ducati are all “under investigation”. VW is believed to have already had negotiations with potential investors, but the coronavirus pandemic has slowed things down.
The report ends with another juicy scoop. Bugatti is expected to unveil a unique variant of the Vision Le Mans concept late next month (photo above) like an electric hypercar only on the track.