Croatia's electric supercar maker, which started in a garage a decade ago, is taking over the iconic French manufacturer Bugatti in a deal that is reported to be worth millions of euros.
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The Croatian car producer Rimac Automobili said Germany's Volkswagen Group, including the Porsche division – which owns a majority stake in Bugatti – plans to create a new joint venture. The new company will be called Bugatti-Rimac.
Rimac Automobili announced Monday that it will be combining forces with Bugatti to "create a new automotive and technological powerhouse."
Porsche will own 45% of Bugatti-Rimac while Rimac Automobili will hold the remaining 55% stake, according to Croatian media reports. Financial details of the deal were not published.
