Porsche is moving away from Bugatti Rimac; sells stake in Croatian brand

Porsche is divesting in the Bugatti Rimac and Rimac Group. This comes after the brand had recently reported a heavy 92.7 per cent drop in operating profit.

New Delhi: Porsche’s stay with Bugatti Rimac and Rimac Group has come to an end as the German automaker is divesting from both brands, selling its stake in the companies to a New York-based consortium. The announcement happens just five years after Porsche and Rimac Group established Bugatti Rimac, where the Croatian brand holds 55 per cent and Porsche a 45 per cent stake. 

The sale also includes Porsche’s 20.6........

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