Rimac CEO Says Bugatti Venture Is ‘Profitable Beyond Expectations’
Porsche and Rimac’s acquisition of Bugatti has apparently been a “win-win for everybody.”
Mate Rimac, CEO and founder of the eponymous Croatian manufacturer of extreme performance EVs like the record-setting, 256-mph Nevera, recently told Reuters that financial gains since the Bugatti acquisition have already exceeded expectations.
“It’s highly profitable and cash flow positive beyond anybody’s expectations,” Rimac told Reuters in a recent interview. “It’s such a win-win situation for everybody.”
As Road & Track points out, Rimac owns 55 percent of Bugatti, while Porsche owns the remaining 45 percent of Bugatti as well as 20 percent of Rimac.
Porsche has already seen extraordinary success with the launch of its first EV, the Taycan, and it sounds like Rimac’s “close strategic relationship” with the German marque will only advance electrification efforts further.
“We are really collaborating on many levels, developing and producing lots of key elements of [Porsche’s] future hybridization and electrification,” he said.
Porsche also made headlines with a $73 billion IPO in September of 2022, and analysts expect share value to continue to climb in the next 12 months. Ferrari went public in 2015, and Rimac is prepared to do the same in the next decade, possibly in the next few years, to satisfy financial investors who expect an exit.
“[Ferrari] makes projections and they always achieve,” Rimac 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.”