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According to reports, the deal was approved last week but not signed off by the top honchos.
[UPDATE] Automotive News has quoted German publication Manager Magazin regarding VW’s plan to sell the Bugatti brand by Rimac by the end this year.
We’ve heard some very important news this week, including the Nissan Z Proto and next Hyundai Tucson. The biggest news of all may not be about a new model, as the headliner this week could be an acquisition. Car Magazine reports that the Volkswagen Group is transferring its elite brand Bugatti to Rimac Automobili.
Sources close to the situation claim that the deal was approved last week by VW executives, but the supervisory boards has not yet given their approval. Technically, Bugatti’s part would still have ties to VW Group due to Porsche holding 15.5 percent of Rimac. Additionally, Car Magazine According to reports, Porsche would receive a larger share of Rimac’s profits if it signed a deal with Croatian hypercar manufacturer.
The VW Group apparently doesn’t want to invest in Molsheim-based brands after Ferdinand Piech left the conglomerate in 2015. In 2019, he died. Lamborghini paid tribute to him by renaming their first electrified production model Sian FCKP 37 in his honor. Car Magazine The Piech family still controls 50 percent of VW Group’s controlling interest, so the only way to persuade them to sell Bugatti is to make Porsche a beneficiary. The ultimate goal of the Stuttgart brand is to increase its share at Rimac to 49%. Recent years have seen a significant increase in Rimac share.
Hyundai/Kia Magna, Jaguar, Koenigsegg and Jaguar have all invested in the company that was founded only 11 years ago. Wait, there’s more. But there’s more. It also states that Lamborghini and SEAT, Italdesign and Ducati are all under investigation. However, the Coronavirus pandemic has slowed down negotiations.
Another juicy scoop closes the report. Bugatti will unveil a special version of the Vision Le Mans Concept (pictured above), to be used as an electric hypercar for track use.