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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

2015 Volkswagen Golf R [w/video]

Volkswagen hired a photographer to come shoot the handful of journalists that it brought to drive the 2015 Golf R at Buttonwillow Raceway north of Los Angeles. This fact, though unremarkable in and of itself, was something I hadn't noticed until I was well into my track time – probably ten laps deep on a day that would see me run twice that number. In any event, I noticed the intrepid shooter as he was sprinting from one side of the track to the other somewhere before Turn 2, while I was barreling down the main straightaway, still looking through Turn 1. In the roughly two-mile configuration of the track that I drove, Buttonwillow is a big, wide-open circuit, largely flat and with excellent overall visibility. On that layout, and just hours into my Golf R experience, I'd already become confident in endeavoring to push the limits of VW's latest blistering hatch. In fact, the easy nature of driving the thing quickly had me overestimating my pace. So when I saw the photog sprint across the tarmac I instinctively slowed way too much, way too early for Turn 1. Looking back at the incident after I'd pitted for the session, I laughed at myself, knowing I'd have had to be driving almost double my actual speed to put the camera guy in any real danger of being hit. But the experience crystallized what my full test of the R bore out: this is a car that makes you feel much faster than you otherwise would, at least in a competition setting. The 2015 Golf R is an uber hatch that will flatter those hyper-enthusiasts passionate enough to splash out on its steep price tag, but without threatening sales of core models like the GTI and its ilk. That's a good thing for the VW fanboys, to be sure, and, I'd argue, a great thing for the strength of the German brand overall. {C} The R felt both placid and comfortable while I clicked off highway miles in search of the racetrack. My test in California had at least two things in common with the First Drive feature that Steve Ewing brought us with the Golf R in Sweden. First, we both drove European specification cars (though mine didn't suffer from the same sticker abuse that Steve's did). Second, we were both somewhat limited in terms of driving the car in varied, real-world situations. My street route consisted almost entirely of tracking California's I-5 north out of Los Angeles; which any Angelino will tell you is a less-than-riveting mode of travel.

Audi diverting a third of R&D budget to electrification

Companies make promises all the time. We'll do X by Y. The new A will be our biggest seller in B. You know the drill. But it's when an automaker puts its money where its mouth is that we really stand up and take notice. That's precisely what Audi is doing as it attempts to convert 25 percent of its sales to electrified vehicles by 2025. Citing two sources with knowledge of Audi's plans, Reuters reports that around a third of the company's research-and-development budget will go to " electric cars, digital services, and autonomous driving." Of course, shifting that much money over to newer technologies means sacrifices elsewhere – Reuters' sources claim Audi will move money away from combustion engines and reduce country-specific powertrain variants, but the sources wouldn't get more specific. According to Reuters, Audi is 22nd in total sales of hybrids and EVs. That's eight spots behind Mercedes and ten spots behind BMW (not to mention hybrid-happy Lexus). Audi's only electric representatives in the US market are the A3 e-Tron and Q5 Hybrid and things aren't much better in Europe – the company needs to dump buckets of money into expanding its meager lineup to bring up the percentage of EVs it sells. Expect greater detail on Audi's electrification plans very soon – CEO Rupert Stadler will discuss the company's path forward on Wednesday at a closed-door meeting in Munich with over 2,000 managers. It's unlikely all those managers will be able to keep quiet. We'll be listening. Related Video: Featured Gallery Audi E-Tron Quattro Concept View 36 Photos News Source: ReutersImage Credit: Audi Green Audi Volkswagen Green Driving Electric Hybrid PHEV e-tron audi e-tron electrification