2007 Porsche Sport Chrono on 2040-cars

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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

Porsche Cayman, Boxster caught in GTS trim

A few months ago, we reported on some leaked information from an internal presentation for upcoming Porsche models. This included details about the Macan and the 911 Targa, which we now know to be true, but there was also talk about GTS versions of the Cayman and Boxster.
Well, it appears we're now getting our first look at these GTS models, as our spy photographers have just snapped a pair of Porsche prototypes out testing - one Cayman and one Boxster.
Right off the bat, we can see that both GTS-branded cars will get a slightly tweaked exterior with new fascias (bringing LED daytime running lights to the Cayman) and air diffusers at the rear. The true gem of these cars will be the added horsepower to the tune of 340 horsepower - a 15-hp bump. A manual transmission will likely be standard, as will Porsche Active Suspension Management (PASM).

Porsche teams with Delta airlines to woo VIP passengers

The next time you're waiting for a flight at Hartsfield-Jackson Atlanta International Airport, see if you can spot a Porsche Cayenne or Panamera zipping between aircraft on the busy tarmac. The high-performance German vehicles aren't there practicing for an upcoming autocross; they are tasked with whisking some of the airline's most important customers between flights so they can keep their busy schedules intact.
Launched nearly two years ago, the program has proven popular with the automaker, airline and passengers as all benefit from the unique arrangement. Atlanta-based Porsche is able to showcase its cars to Delta's frequent-flying Medallion members, the airline is recognized for providing unusual perks to its high-value customers and those fortunate enough to be surprised with a quick lift are able to make connections without a stressful run through the terminal. Based on its success, the airline is rolling our similar programs in New York, Los Angeles and Minneapolis this month.
And don't think Porsche is the only automaker working with an airline to entice its frequent flyers. Mercedes-Benz ran a program over the summer that offered purchasing and leasing incentives to MileagePlus Premier members of United Airlines, and the two are currently shuttling top fliers around Houston's George Bush Intercontinental Airport in the automaker's S-Class and GL-Class models.