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		</div><p>Croatian electric supercar maker Rimac is taking over French manufacturer Bugatti in a deal reported to be worth millions of euros.</p>
<p>Rimac Automobili said Germany’s Volkswagen Group, including the Porsche division — which owns a majority stake in Bugatti — plans to create a new joint venture called Bugatti-Rimac.</p>
<p>The Croatian firm announced on Monday that it will combine forces with Bugatti to “create a new automotive and technological powerhouse”.</p>
<p>Rimac has progressed in 10 years from a one-man garage start-up to a successful company that produces electric supercars.</p>
<p>Mate Rimac, who founded the company in 2009, said the venture is an “exciting moment” and called the combination of the companies “a perfect match for each other”.</p>
<p>Porsche will own 45% of Bugatti-Rimac while Rimac Automobili will hold the remaining 55%, according to Croatian media reports. Financial details of the deal were not published.</p>
<p>Bugattis will continue to be assembled in eastern France, where the company was established in 1909. The vehicles will use engines developed and made in Croatia.</p>
<p>“In an industry evolving at ever-increasing speed, flexibility, innovation and sustainability remain at the very core of Rimac’s operations,” the company said.</p>
<p>“Uniting Rimac’s technical expertise and lean operations with Bugatti’s 110-year heritage of design and engineering prowess represents a fusion of leading automotive minds.”</p>
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