Porsche is setting up joint venture with Croatian Rimac and Bugatti
Porsche, one of the most well-known car brand worldwide, made a deal with Croatian electric hypercars manufacturer Rimac to set up joint ventures. The new company will be named Bugatti-Rimac and should start working in the last quarter of this year. Rimac will have 55% of ownership, while Porsche will hold 45% of the company.
The structure of ownership is following: Volkswagen owns Porsche, Lamborgini, Bugatti, Bentley, Audi, Skoda, Seat and Scania. Therefore, it was decided that Bugatti will cooperate with Rimac, a promising Croatian company.
Bugatti-Rimac will operate as manufacturer of hypercars. First cars to be manufactured are Bugatti Chiron and electric hypercar Rimac Nevera. "We are combining Bugatti's strong expertise in the hypercar business with Rimac's tremendous innovative strength in the highly promising field of electric mobility," Porsche's CEO Oliver Blumesaid commented on the reasons why the two companies decided to join strenghts.
How do Volkswagen stocks perform on the market?
Long-term-wise, stock climbed from €125 to current €283.60. In the last period, price dropped a little, mostly due to the fact that Volkswagen was fined €502 million by the EU over diesel emissions scandal in 2015. Back then, Volkswagen and BMW were cheating pollution emissions tests in the US. BMW had to pay a fine of €373 million.
However, we are coming closer to dividends of thw company. With the ex-dividend date of 23th July 2021, and based on the company's data, dividend yield will be 1.9% or €4.80 per stock.
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