Automobile

Volkswagen to sell Bugatti to Croatian supercar maker Rimac

Volkswagen AG is planning a sale of its Bugatti division that would give the maker of 16-cylinder performance vehicles a new lease on life in the electric age. To help finance VW’s Porsche unit could boost its 15.5% stake in Rimac as 49%, said the person, who asked not to be identified because no final decision has been made.

In November, Bugatti boss Stephan Winkelmann described a “hard fight” with its parent to secure funds for an electric four seater that would flank its 2.5 million euro Chiron supercar. Bloomberg also reported last year that VW was weighing options for the Lamborghini unit.

Apart from Porsche, investors in the company include Hyundai Motor Co., Kia Motors Corp and Chinese battery maker Camel Group Co.

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