Volkswagen: in process of divesting Bugatti
(CercleFinance.com) - According to Car Magazine, the Volkswagen Group is reportedly negotiating the sale of Bugatti to Rimac Group, a Croatian manufacturer specialsed in electro-mobility, battery development and performance electronics.
Sources told the magazine that the agreement has been approved by VW's management, although not yet endorsed by the Supervisory Board. For VW, it would be a matter of not spending any more money on a leisure brand - even though it is highly prestigious - and of devoting itself to the brand's future through a program of massive investments in favour of electrification, digitisation and autonomous driving.
Although Rimac's value has not yet been determined by an IPO, the value of Bugatti is estimated at nearly 500 million euros.
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Sources told the magazine that the agreement has been approved by VW's management, although not yet endorsed by the Supervisory Board. For VW, it would be a matter of not spending any more money on a leisure brand - even though it is highly prestigious - and of devoting itself to the brand's future through a program of massive investments in favour of electrification, digitisation and autonomous driving.
Although Rimac's value has not yet been determined by an IPO, the value of Bugatti is estimated at nearly 500 million euros.
Copyright (c) 2020 CercleFinance.com. All rights reserved.