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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 reviving 718 name for new Boxster and Cayman

The next-generation Boxster and Cayman are coming next year, and when they launch, they'll have a new name: 718. There's historical significance there – in 1957, Porsche launched the 718 racecar with a mid-mounted, four-cylinder engine. And when the new Boxster and Cayman come to market, they'll be powered by a new turbocharged, flat-four engine, mounted amidships just like in the current cars. That powertrain isn't a surprise, but the name change certainly is. Officially, the cars will be called 718 Boxster and 718 Cayman, and Porsche says the two models "will share more similarities than ever before," both visually and mechanically. What's more, Porsche confirms the 718 Boxster will carry a higher price tag than the 718 Cayman, which is a switch from the company's current pricing strategy – right now, a base Cayman costs $500 more than a standard Boxster. Technical details haven't been confirmed yet, but an earlier report suggests the 2.0-liter flat-four will produce 240 horsepower in the base cars and 300 hp in the S models. GTS versions are tipped to produce as much as 370 hp from this same flat-four engine. Both 718 models will be unveiled throughout the course of 2016. Have a look below for Porsche's official statement. Related Video: Boxster and Cayman to be branded as 718 model range next yearPorsche's mid-engine sports cars to receive new name Atlanta, Georgia. The mid-engine sports cars from Dr. Ing. h.c. F. Porsche AG will be named 718 Boxster and 718 Cayman, respectively, when the models are introduced over the course of 2016. The 718 designation is a reference to the ground-breaking sports car Porsche introduced back in 1957, which achieved great success in a number of renowned car races. The 718 Boxster and 718 Cayman will share more similarities than ever before – both visually and technically. In the future, both will have equally powerful turbocharged flat-four cylinder engines. The Roadster will be positioned at a higher price level than the Coupe – as is the case with the 911 models. The 718 model range is driven by the four-cylinder concept and the history of distinguished Porsche sports cars. The latest example is the 919 Hybrid LMP1 race car, which is powered by a highly-efficient, turbocharged 2.0 liter four-cylinder engine.

Porsche creates 'symphony' with seven generations of 911

At Porsche, things are getting a bit wild on the 50th anniversary year of the 911. To celebrate it (again) in yet another inventive way, the automaker has called on the musical talents of seven generations of the rear-engine sports car (please suspend your disbelief, at least for the length of the video, and assume that generation two started in 1974) to perform a song that has eight notes. We're wondering which 911 is pulling double duty...
But before the Porsches are lined up for the short recital, the drivers let loose and drift them inside a hangar. Watch the video below, and tell us in comments which was more impressive: the song or the drifting.