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Rimac inks deal to purchase 55% of Bugatti from VW Group

ZAGREB, Croatia — Croatian electric supercar builder Rimac is taking over the iconic French manufacturer Bugatti in a deal that is reported to be worth millions of euros. Rimac said GermanyÂ’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.” Rimac has progressed in 10 years from a one-man garage startup to a successful company that produces electric supercars. Mate Rimac, who founded the company in 2009, says the venture is an “exciting moment” and calls the combination of the companies “a perfect match for each other.” 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. Bugattis will continue to be assembled in eastern France, where the company was established in 1909. The vehicles will use engines developed and made in Croatia. “In an industry evolving at ever-increasing speed, flexibility, innovation and sustainability remain at the very core of RimacÂ’s operations," the company said. “Uniting RimacÂ’s technical expertise and lean operations with BugattiÂ’s 110-year heritage of design and engineering prowess represents a fusion of leading automotive minds." Earnings/Financials Green Bugatti Automakers Porsche Volkswagen Green Automakers Electric Supercars

Bugatti files for Rembrandt patent

Though increasingly uncommon today, back in the day every automaker had a hood ornament. Bugatti's was an elephant standing up on its hind legs with its trunk extended into the sky. It capped the nose on the famous Bugatti Type 41 Royale, and it was designed by Rembrandt.
No, not the famous Dutch artist, but Rembrandt Bugatti - the younger brother of carmaker Ettore Bugatti who was named after the painter.
So why do we mention this, you ask? Because one of our readers just alerted us to a patent application with the European Union's Office for Hamonization in the Internal Market. It was filed by Audi's intellectual property office on behalf of its sister company and encompasses the name Rembrandt Bugatti.

Junkyard Gem: 1990 Buick Electra Park Avenue

The Buick Electra may be best-known today as the subject of Sir Mix-a-Lot's My Hooptie, but this big luxury machine was one of The General's signature land yachts for more than 30 years. The final model year for the Electra was 1990, and so this very nice 1990 Electra Park Avenue in a Denver wrecking yard is a significant part of GM history. Just look at that plush interior, all blue velour and glossy fake wood! There are plenty of five-year-old cars on the street today with rougher interiors than this car. Thing is, not many used-car shoppers have much interest in a 28-year-old Buick, no matter how well-preserved. Who knows, the '90 Park Avenue may have been the car Royal D and Richie Rich rapped about in Scrapers. Even though there aren't any Electra badges on this car, the Park Avenue didn't become a separate model until the 1991 model year. GM luxury cars had these "coffin handle" door pulls for much of the 1970s and 1980s. Power, all 165 horsepower of it, came from a 3.8-liter Buick V6 driving the front wheels. This car was built on the same platform as the mid-1980s Cadillac DeVille and Oldsmobile 98. This car has the "Concert Sound II" audio system, complete with auto-reverse-equipped cassette deck. Car CD players were still rare, costly items in 1990. Plenty of Detroit cars got these "wire wheel" hubcaps during this era. Buick was the fifth-most-reliable marque in 1990. Hooray! Here's your address for success: Park Avenue. Related Video: Featured Gallery Junked 1990 Buick Park Avenue View 19 Photos Auto News Bugatti Automotive History Sedan