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Porsche to decide soon on Bugatti future

WEISSACH, Germany — Volkswagen will soon decide on the future of its luxury brand Bugatti, Oliver Blume, Volkswagen management board member and CEO of Porsche AG, said on Monday. Last week, Reuters reported that Bugatti was working on a strategic partnership with Rimac, which will likely result in a joint venture between Porsche and Rimac, with Porsche as a minority partner, Volkswagen CEO Herbert Diess said in March. "The future of Bugatti is an issue that will be decided on a group level," Porsche said in a statement, declining to comment further. Porsche boss Oliver Blume earlier this year said intense discussions on Bugatti's future were ongoing and that Rimac could play a role as the brands were a good technological fit, adding that a decision was expected in the first half of 2021.  

Lightspeed Classic 911 rocks out with its sprockets out

Singer does a pretty damn good job re-imagining the Porsche 911, but the faithful will aptly tell you that it's not the only name in the business. Munich-based Autoaktiv Motorsport also does a pretty compelling rendition of the classic German sports car. It's called the Lightspeed Classic, and this video clip casts it in light as good as we've ever seen. The brainchild of former Porsche engineer Ralf Skatulla, the Lightspeed Classic is based on the 964 but upgrades some key components while keeping the classic style. Power comes from a 3.8-liter flat-six from the 964 RS (albeit rebuilt with titanium components) that's been retuned to deliver 340 horsepower. It's got the gearbox from a 996 Turbo, the clutch from a 997 GT3 RS, and the brakes from a 996 GT3 Cup, along with Michelin Pilot Sport rubber coating a set of Fuchs-style BBS alloys. The result, as you can see, is lovely. Especially with Tim Schrick behind the wheel. The German racing driver is also a television personality, co-hosting D Motor – Germany's equivalent to Top Gear – alongside Sabine Schmitz and Carsten van Ryssen. Which is all well and fine, but what you really want to do is scope out the footage for yourself. If you dig Porsches (or even if you don't), it'll probably be the best 49 seconds you'll spend all day. Related Video:

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