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VW close to decision on selling Bugatti to Rimac

FRANKFURT — Electric hypercar maker Rimac Automobili and Volkswagen's supercar brand Bugatti are a good technological fit, Porsche's CEO told German weekly Automobilwoche, fueling hopes that a deal between the two could happen soon. British automotive magazine Car last year reported that Volkswagen was on the verge of selling Bugatti to Rimac Automobili, citing sources. In exchange, Porsche, also owned by Volkswagen, would raise the 15.5% stake it owns in Rimac, founded by Croatian entrepreneur Mate Rimac, Car said. "At the moment there are intense deliberations on how Bugatti can be developed in the best possible way. Rimac could play a role here because the brands are a good technological fit," Porsche CEO Oliver Blume said. "There are various scenarios with different structures. I believe that the issue will be decided by the group in the first half of the year," said Blume, who also sits on the management board of parent Volkswagen. Rimac has developed an electric supercar platform, which he supplies to other carmakers, including Pininfarina. Blume also confirmed higher savings targets for Porsche, saying the carmaker plans to support results by 10 billion euros ($12.1 billion) of cost cuts by 2025, up from 6 billion previously. Related Video:

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.  

1949 Gm?nd Porsche shows the birth of an icon

The Austrian village of Gmünd is more than just difficult to pronounce; it's also the birthplace of the Porsche brand. Before the company ever started building sports cars at its current home base near Stuttgart, the fledgling business completed several vehicles in the tiny town in Southern Austria. In this video, former Pikes Peak International Hill Climb champion Jeff Zwart takes a look at a 1949 Gmünd coupe to see how the company has evolved since its earliest days.
The thing to note about the Gmünd-built Porsches is their absolute design simplicity. The phrase "form follows function" gets bandied around a lot, but it really means something when you look at these early cars. However, the minimalism was partially out of necessity. The vehicles were meant to be sporty but certainly weren't rockets. Power came courtesy of a modified Volkswagen Beetle engine, and anything extraneous would have slowed the models down. Scroll down to watch Zwart go back in time to Porsche's beginnings.