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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

Leno buys classic Porsche 356 Carrera 2, seeks out and finds perfect expert for help

The world of collector cars is fairly tight-knit when you get down to individual models. Need proof? Just take a look at this latest video from Jay Leno's Garage. The subject is a gorgeous 1963 Porsche 356 Carrera 2. Jay, being known as quite a collector, got a call from someone looking to sell. While doing his due diligence and looking for a 356 expert to go over the car with him, he came across John Willhoit.
Where the story gets weird is when Leno is asked the license plate number - it turns out that Willhoit, owner of Willhoit Restorations, had restored the exact same car more than 30 years prior. He then sold it to the same person that was looking to give it to Leno. What follows is a truly interesting video on the little quirks of the 356, along with Willhoit's personal history on a car he hadn't seen since 1976.
This is a bit more mechanically detailed than Leno's normal videos, but it's on a very interesting subject. Take a look below for the entire film.

2018 Mazda6, Porsche Panamera and Nissan Titan | Autoblog Podcast #541

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Beltz Snyder and Associate Editor Reese Counts. We talk about driving the updated, turbocharged 2018 Mazda6, 2018 Porsche Panamera Sport Turismo 4S Sport Turismo and the 2018 Nissan Titan S 4x4 King Cab. We also discuss aftermarket parts for the Chevy Colorado, pick our favorite 50th Anniversary Hot Wheels and, as always, help a listener buy a new car in our "Spend My Money" segment. Autoblog Podcast #541 Your browser does not support the audio element. Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we've been driving: Mazda6, Porsche Panamera, Nissan Titan The aftermarket takes on the Chevy Colorado 50th Anniversary Hot Wheels Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Aftermarket Podcasts Chevrolet Mazda Nissan Porsche Car Buying Truck Wagon Sedan Hot Wheels porsche panamera sport turismo