Porsche AG and Rimac have announced the establishment of a joint venture incorporating Bugatti, launching a new hypercar manufacturer named "Bugatti-Rimac."

An agreement has been reached for Porsche, Rimac—renowned as a hyper-EV maker—and Bugatti, currently under the Volkswagen Group, to unite as a new manufacturer, "Bugatti-Rimac."

The headquarters will be located in Zagreb, Croatia, with the company expected to be established around the end of 2021. Bugatti will join the joint venture from its current owner, Volkswagen, with its shares subsequently to be transferred to Porsche.

Oliver Blume, Chairman of Porsche AG, commented, "We are combining Bugatti's strong expertise in the hypercar business with Rimac's incredible innovation power in the field of e-mobility."

Initially, "Bugatti-Rimac" will produce two hypercar models: the "Bugatti Chiron" and the all-electric "Rimac Nevera." It has also been revealed that Bugatti models will continue to be produced at the factory in Molsheim, France, with plans for joint development of Bugatti models in the future.

The birth of a new manufacturer that fuses the DNA of Bugatti and Rimac. We eagerly anticipate what kind of cars will emerge from this union in the future.