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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

Porsche, Hyundai and GM impress in J.D. Power Initial Quality Study, Fiat and Jeep don't

Consumers continue to struggle with the advanced user interfaces and technologies being fitted to new cars, according to the latest J.D. Power Initial Quality Study. Overall, the industry average for problems per 100 vehicles climbed three percent, to 116 issues reported in the first 90 days of ownership.
Vehicles from the General Motors' family were dominant, with Buick, Chevrolet and GMC capturing more individual IQS segment awards than any other manufacturer. Despite its well-publicized issues, six GM vehicles (Buick Encore, Chevrolet Malibu, Chevy Silverado HD, Chevy Suburban, GMC Terrain and GMC Yukon) were given IQS awards for their respective segments.
Hyundai was ranked the best overall mass-market brand, with just 94 issues in every 100 vehicles reported in the first 90 days. Parent Hyundai Motor Company, meanwhile, trailed GM with five vehicles winning their segments, including the Hyundai Accent, Elantra and Genesis, as well as the Kia Cadenza and Sportage.

VW Group plan puts Porsche in charge of a 'super-premium' division

An Automobile report looks into what's happening on the organizational and technical sides of the Volkswagen Group, and what those changes could mean for the premium brands. The wide-angle view is that Porsche appears to have been anointed to "coordinate the future activities" at Audi, Bentley, Bugatti and Lamborghini. Audi would cede Lamborghini guardianship to Stuttgart, and Ducati — via a new concern called Ducati Enterprises — would become the shepherd for VW's other Italian investments. Executives target Jan. 1, 2019, to complete the reshuffle. VW wants to save a boodle by tying up four of its five top-tier brands, and putting the one with the highest ROI in charge. Porsche, within its own house, wants to reduce expenditures by $2.3 billion per year over for four years, the savings already earmarked for improving internal processes like R&D and production. Having Porsche share those gains as well as lead development of platforms, components and future-tech strategies for the sister sports car brands could benefit everyone. In the near-term, the brands have their own plans: Bugatti CEO Stephan Winkelmann is said to want a Chiron Superleggera, a roofless and "completely reskinned" Chiron Aperta, and a track-only Chiron SS. The Superleggera could take the Chiron Sport's and Divo's Jenny Craig routines even further. The Aperta seems a natural successor to the Veyron Grand Sport, a natural evolution of the recently introduced Sky View roof, and a reskin might include numerous Divo cues. It's also said Bugatti's considering "an all-electric high-end model" in conjunction with Porsche, Rimac, and Dallara, but name one supercar or hypercar manufacturer that isn't considering a lightning-fast EV. Lamborghini, deep into work on follow-ups for the Huracan and Aventador, might get a bit of a bump with the new plan. The carbon "monofuselage" for the next V12 flagship is said to be too far developed and too complex to scrap. It puts two electric motors on the front axle, batteries in the middle, and a naturally aspirated V12 with around 770 horsepower plus another e-motor with 402 horsepower in back. The Huracan is said to get a version of the same carbon architecture at the moment, but the corporate reorganization might press pause on it. Automobile says options include continuing the Huracan/ Audi R8 twinning, but that depends on Audi saying "Ja" to a third-gen R8 with Lamborghini bones.