Volkswagen to bid adieu to its showstopper, Bugatti

VOLKSWAGEN is reported to be planning to sell its supercar brand Bugatti to electric hypercar maker Rimac Automobili pretty soon, saying that the two are a ‘good technological fit’.

As reported by a British automotive magazine known as ‘car’, Porsche AG, also owned by Volkswagen, will raise the 15.5% it has in Rimac.

“At the moment there are intense deliberations on how Bugatti can be developed in the best possible way. Rimac could play a role here because the brands are a good technological fit,” Porsche AG CEO Oliver Blume said.

“There are various scenarios with different structures. I believe that the issue will be decided by the group in the first half of the year,” said Blume, who also sits on the management board of parent Volkswagen AG.

Recently, Rimac developed an electric supercar platform that is supplied to other carmakers.

Blume also confirmed higher savings targets for Porsche, saying the carmaker plans to support results by €10 bil (US$12.1 bil) of cost cuts by 2025, up from €6 bil previously. – Feb 22, 2021

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