Croatia's hypercar maker Rimac explores strategic options

Rimac has developed an electric supercar platform that it supplies to other carmakers.
By : Reuters
| Updated on: 17 Jun 2021, 08:13 PM
Rimac is currently working on a strategic partnership with Volkswagen unit Bugatti.
Rimac is currently working on a strategic partnership with Volkswagen unit Bugatti.
Rimac is currently working on a strategic partnership with Volkswagen unit Bugatti.
Rimac is currently working on a strategic partnership with Volkswagen unit Bugatti.

Croatian electric hypercar maker Rimac is exploring several options for its future, a spokesperson for the group said in response to a report outlining plans for an initial public offering next year.

Germany's manager magazin earlier reported that Rimac, in which Volkswagen's Porsche unit owns a 24% stake, was planning an IPO in 2022 at a valuation of 5 billion euros ($6.1 billion), without disclosing where it obtained the information.

"As for going public, we're considering different options, but it hasn't been decided which direction we'll go in," the Rimac spokesperson said.

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Rimac has developed an electric supercar platform which it supplies to other carmakers, including Automobili Pininfarina.

It is currently working on a strategic partnership with Volkswagen unit Bugatti, which will likely result in a joint venture between Porsche and Rimac, with Porsche as a minority partner, Volkswagen CEO Herbert Diess said in March.

"The future of Bugatti is an issue that will be decided on a group level," Porsche said in a statement, declining to comment further.

Porsche boss Oliver Blume earlier this year said intense discussions on Bugatti's future were ongoing and that Rimac could play a role as the brands were a good technological fit, adding that a decision was expected in the first half of 2021.

($1 = 0.8247 euros)

(Reporting by Christoph Steitz and Jan Schwartz; Editing by Madeline Chambers and Bernadette Baum)

First Published Date: 17 Jun 2021, 08:13 PM IST
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