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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

Studiotorino shows new Cayman-based Moncenisio sports car

While the recent bankruptcy of Bertone shows that it has become very difficult to be a coachbuilder today, it seems there is still a business case in creating unique bodies for premium vehicles. Case in point, Studiotorino a small, Italian coachbuilder that has been creating limited-edition cars since 2005. Its latest creation is the Moncenisio, which debuted as a prototype at the National Automobile Museum of Turin on March 21. It's named after the 1902 Susa-Moncenisio race in Italy, the first automotive hillclimb in the world.
The Moncenisio begins life as Porsche Cayman S, and each car will be built to order with a planned production run of 19 examples. The chassis, mechanicals and engine are all left untouched. The only thing that Studiotorino alters are the body panels and interior appointments. Prices start at at a heady 145,000 euros ($200,420 US), plus the cost of the donor vehicle.
Architect Daniele Gaglione penned the shape of the Moncenisio, taking inspiration from the 1963 Porsche 904. The sports coupes receive carbon fiber pieces that replace the front bumper, side panels and rear bumper. Studiotorino also covers the rear side windows with welded metal panels. The design is still clearly a Cayman, especially from the front, but the extended roof and support pillars create a new look from behind, which features a new exhaust treatment and rear spoiler. The interior receives leather upholstery on the engine compartment cover, the partition between the engine and seats, ceiling and A-pillars. Scroll down to view a walkaround of the Moncenisio and read the full press release about it.

2017 Porsche Panamera wagon spotted on Nurburgring

Back in February we showed you spy photos of a Porsche Panamera wagon that suggest the body style is slated for production. With the same car (or a nearly identical test mule) now running on the Nurburgring, we're ready to say the Porsche Panamera Sport Turismo is real. The name comes from a concept shown at the 2012 Paris Motor Show. It's not confirmed whether the Sport Turismo badge will be the official name for this model. We've seen spy photos of the standard Panamera hatchback, and both it and the wagon shares similar body panels. Expect to see the new 2017 Porsche Panamera at Paris this year with new or updated V6 and V8 engines as well as a plug-in hybrid option. The new Panamera is based off the MSB platform that Porsche is leading development on. As we reported previously, the next big Porsche could come as a coupe variant as well. Autocar also reports that the MSB platform will underpin future Bentley models, and the next Audi A8 (or A9 coupe) will probably share the same architecture. Before you bemoan the shared platform as some kind of brand dilution, remember that Porsche claims the Macan SUV shares only one-third of its parts with the Audi Q5. That is, the brands in the VW maintain a lot of differentiation despite common underpinnings. Or to put it another way: if you're going to make a knee-jerk complaint about Porsche, keep it to the standard cliches about making too many SUVs or how the Panamera isn't pretty. But to go back to the wagon seen above, at least the boxy tail lends some elegance to the Panamera's generous dimensions. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Porsche Panamera Sport Turismo Wagon Spy Shots View 9 Photos Spy Photos Paris Motor Show Porsche Wagon Luxury porsche panamera sport turismo