The management of the Volkswagen Group has decided to sell Bugatti to the Croatian manufacturer Rimac Automobili, claims Car Magazine. The British edition quoted its sources from the German concern, according to which the deal was approved last week, but the supervisory board has not yet given its consent.
If the information is confirmed, VAG will continue to have a stake in Bugatti, as 15.5% of Rimac Automobili’s ownership belongs to Porsche. According to Car Magazine, this share will be increased after the acquisition of Bugatti.
Apparently, the VW Group is no longer willing to pour money into the French brand after the death of Ferdinand Piech in 2019. The Piech family still owns 50% of the controlling stake in the concern and the only way to convince it to agree to the deal is from it. to benefit Porsche by increasing the company’s stake in Rimac to 49%. Hyundai / Kia, Koenigsegg, Jaguar and Magna have also become investors in the Croatian manufacturer in recent years.