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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

Salvage team boards burnt ship Felicity Ace off Azores, towing begins

LISBON — More than a week after a ship packed with around 4,000 vehicles, including Porsches, Audis, Lamborghinis and Bentleys, caught fire in the middle of the Atlantic Ocean, a salvage team managed to board the vessel on Friday and started to tow it to a safe location off the Portuguese Azores archipelago. In a statement, ship manager Mitsui O.S.K. Lines Ltd (MOL) said the Felicity Ace remained stable, and the smoke that for days billowed from the vessel, adrift around 170 km southwest of the Azores, had stopped. The 22 crew members of the Panama-flagged Felicity Ace, which was carrying around 4,000 vehicles including Porsches, Audis and Bentleys from Germany to the United States, were evacuated last Wednesday, the day the fire broke out. Some of the vehicles are electric and their lithium-ion batteries have made the fire very difficult to extinguish, port officials have said. Previous attempts to board the ship to assess its condition and start preparing it for towing had failed due to the fire and rough seas. On Friday, the team was able to board by helicopter and the salvage boat Bear started towing the vessel to a "safe area off Azores," the ship manager said. It was not clear where exactly the vessel was being towed to. It was being escorted by two tug boats and another salvage craft equipped with firefighting gear, MOL said. Related video: Image Credit: Portuguese Navy (Marinha Portuguesa) via Reuters Green Weird Car News Audi Bentley Lamborghini Porsche Electric fire car fire shipping cargo ship

Chris Harris pits Aston GT12 vs 911 GT3 RS vs McLaren 650S

The Geneva Motor Show is never lacking in exciting performance machinery. And this year was no exception. Our eyes, like those of Chris Harris, were drawn by two hardcore, track-focused versions of existing sports cars. Both wore the name GT3, and now Harris has brought them together for a supercar shootout. And he's thrown one more in for good measure. Those natural rivals are the Aston Martin Vantage GT12 and Porsche 911 GT3 RS, the latter manufacturer having pressed the former to drop the GT3 name to which it claims exclusive domain. There's a great deal that separates them, of course: one's got a V12 up front, the other a flat-six way in the back. But what binds them together is a common approach of taking an existing model, stripping it down, and tightening everything up to make it more of a weapon than a grand tourer. What that means in the Aston's case is a rather high price tag, much higher than that of the Porsche. But scarce demand and speculation on the open market have left British customers, at least, paying as much for the GT3 RS as for the limited-edition Aston. And that takes both into proper supercar territory. So to show what else that kind of money can get you, Monkey has brought along a McLaren. Not the similarly track-focused 675LT, but the standard 650S... Spider, no less, and with worn hard rubber. So which one performs best on the road? Which clocks the fastest lap time on the track? And which gets Harris' vote? You'll have to watch the video for yourself to find out, but it's well worth the 25 minutes of your lunch break. News Source: Chris Harris on Cars via YouTube Aston Martin McLaren Porsche Videos porsche 911 gt3 chris harris mclaren 650s