Mate Rimac, the 33-year-old Croation founder of Rimac Automobili is floating some crazy ideas for the company’s new-found asset Bugatti, when a takeover deal is finalised in the coming weeks. Last month we reported on a new joint venture that resulted in the formation of Bugatti-Rimac, which will be headquartered […]
Day: 23 August 2021
Saudi Arabia wealth fund buys 30% stake in Pagani
Details are emerging of a deal that involves Saudi Arabia’s sovereign wealth fund, otherwise known as the Public Investment Fund (PIF), purchase a minority stake in Italy’s boutique supercar manufacturer, Horacio Pagana SpA. According to a Bloomberg report, the Saudi Public Investment Fund has purchased a 30 per cent stake […]
Toyota scales back production by 40% due to global chip shortage
The global shortage of semiconductors has continued to take a toll on manufacturers, with Toyota confirming it will scale back production of new vehicles by as much as 40 per cent as the brand looks to secure more chips. Toyota has reduced its production estimates for September by 40 per […]