The Bugatti Rimac joint venture has begun operations in Sveta Nedelja, Croatia, under CEO Mate Rimac, founder and CEO of the automaker which bears his name.
Porsche will play a major role with chairman Oliver Blume and finance chief Lutz Meschke both on the supervisory board.
Bugatti Rimac will be owned by the Rimac Group (55%) and Porsche (45%). Both automakers will continue to operate as independent brands and manufacturers and retain their respective production sites in Zagreb (Croatia) and Molsheim (France), as well as their distribution channels.
Current Bugatti CEO Stephan Winkelmann resigned on 31 October to focus on being president of Lamborghini.
Bugatti named Christophe Piochon chief operating officer of the JV and production of that brand continues at Molsheim, Alsace. Larissa Fleischer is CFO. She was most recently Porsche digitalisation and new business development manager.
Emilio Scervo, previously chief engineer at McLaren, is chief technology officer.
Bugatti Rimac in Sveta Nedelja, near Zagreb will move to a new campus in 2023 which will also house a joint R&D facility. 2,500 people will work at the 200,000 square metre site.
The JV started with 435 employees; 300 in Zagreb and 135 in Molsheim.