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Bugatti and Rimac joint venture profitable 'beyond expectations'

WARWICK, England — The joint venture between Croatian electric carmaker Rimac and Bugatti has been far more profitable than anticipated as the two brands work on developing vehicles together under one roof, Rimac's top executive said on Wednesday. "It's highly profitable and cash flow positive beyond anybody's expectations," Rimac CEO Mate Rimac told Reuters in an interview at the UK offices of the carmaker's Rimac Technology unit in Warwick. "It's such a win-win situation for everybody." Rimac added the joint venture has brought "lots of synergies going both ways." The Rimac Group comprises the Bugatti-Rimac JV, producing the electric sportscar Nevera and the Bugatti Chiron — which is owned 45% by Porsche AG — and a technology unit which supplies battery systems and powertrain components to other carmakers. Earlier this year the group raised 500 million euros ($519 million) in a new funding round. Rimac's CEO said the company has developed a "really close strategic relationship" with Porsche, which was listed by its parent Volkswagen in October. Porsche holds a 20% stake in the Rimac group. "We are really collaborating on many levels, developing and producing lots of key elements of their (Porsche's) future hybridization and electrification," he said. Rimac's CEO said the group must become more like Ferrari with a predictable, stable and profitable business before it can contemplate an initial public offering. "They (Ferrari) make projections and they always achieve," he said. "What I want to have is some kind of stability and certainty before we do an IPO because we don't want to make promises we can't keep." An IPO could happen anytime from three years to a decade from now, and could involve going public as a group or spinning off a unit, he said, but is definitely coming because "we obviously have financial investors that at some point want to exit." Related video: Earnings/Financials Green Bugatti Porsche Electric Luxury Performance Supercars Rimac

2014 Porsche Panamera S E-Hybrid

Porsche's Performance Plug-in Preamble
By the end of this year, Porsche will be producing as many plug-in vehicles (two) as mainstream automakers such as Toyota, Chevrolet and Honda. Before the 2015 918 Spyder hybrid supercar goes on sale in the US, though, it will be warming its customers up to the idea of a plug-in model with the 2014 Panamera S E-Hybrid. A step up from the previous Panamera S Hybrid, the new plug-in Panamera adds a more powerful and advanced electric drive system that pledges to deliver the performance expected of a Porsche with the added benefit of improved fuel economy and reduced emissions.
Going on sale in November, the Panamera S E-Hybrid is aimed at customers also considering the upcoming plug-in version Mercedes-Benz S-Class, but the car's dimensions and performance could make it a competitor for Tesla Model S customers. We headed to Germany at Porsche's invitation to see how well it performs, as well as check out the full range of newly refreshed Panamera models, which now numbers nine offerings - although we're still waiting for a production version of the gorgeous Sport Turismo wagon concept.

Next-gen Porsche 911 may include plug-in hybrid version

According to Auto Express, there's a plug-in hybrid Porsche 911 on the way, and it could arrive as soon as the introduction of the next-generation car. At the Detroit Auto Show, the UK outlet spoke to 911 product line director Dr. Erhard Mossle, who said the Stuttgart automaker was "working on different solutions" for the next iteration of its most iconic car, and, "of course, we are discussing plug-in solutions for the 911, but there are a lot of things to solve with packaging in the car and other things to solve. It will maybe be in the next generation, yes." "When we see the 911," he said, "we see the plug-in hybrid as a performance car." Since we just saw the introduction of the turbocharged powerplant in the 911 Carrera last summer, we can expect a wait of at least four years for the next powertrain evolution. Mossle said that any 911 PHEV would remain a sporty proposition and likely retain the flat-six engine, which would give more prestige than the four-cylinder 718 (Cayman and Boxster) yet still be able to satisfy emissions regulations. Mossle is echoing the comments made by Oliver Blume, chairman of the executive board at Porsche, at the Detroit show when Blume said the production version of the Mission E concept would be a sports car that happens to be electric. As far back as 2009, in fact, Porsche has been openly discussing an electric 911, the caveat even then being that it has to perform like a Porsche while providing decent range. In the middle of 2014 it was reported that the carmaker might make a 700-horsepower 911 Turbo S hybrid, by the end of 2014 it was reported that the automaker wouldn't make a 911 hybrid. A year after that first report, a 911 hybrid was back on, using the E-Hybrid system supposedly dismissed six months before, and then last November we got spy shots of a 911 with a supposed PHEV port. But with its Mission E work, and being designated to lead the Volkswagen Group's R&D into performance hybrids, a battery-boosted 911 might finally make sense. Related Video: