Volkswagen to divest its luxury brand Bugatti
Published 07/10/2021
Founded in 1909 by Ettore Bugatti, the French brand was bought by the German manufacturer Volkswagen in 1998.
According to Manager-Magazin, the Croatian car manufacturer, based in Sveta Nedelja in the county of Zagreb, has acquired a 55% stake in VW.
The new joint venture, called Bugatti-Rimac, will nevertheless remain in the shadow of the German carmaker as Porsche, which is one of its brands, will sit on its supervisory board through Olive Blume and Lutz Meschke, currently vice-chairman of the board of management and member of the board of management for finance and IT, reports Electroauto-News.de
Lastly Bugatti has only produced 77 cars this year.
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