These two brands couldn't be more different, and yet they have some things in common.
Investindustrial, an Italian private equity firm and current owner of Morgan, has bought a stake in Rimac. That means Morgan technically joins the list of manufacturers linked in some capacity to the famous EV manufacturer, although, unlike Porsche and Hyundai who have a direct ownership share, Morgan is technically a sibling brand now.
In addition to building its own supercars, Rimac also provides batteries to Aston Martin and Koenigsegg. Investindustrial was also previously a shareholder in Aston Martin before selling off its stake in 2020.
Its latest investment is worth roughly $130 million, though it did not say what percentage it received in return. This is Investindustrial's second investment in the Croatian company.
"Since investing initially in 2021, Investindustrial has been supporting the company by leveraging its deep automotive experience, developed with current and prior investments in Ducati, Aston Martin, and Morgan Motors, in order to accelerate the transition to electrification by backing the best available technological solutions for high-performance electric vehicles developed by Rimac Technology," Investindustrial stated in a press release.
This statement tells us that Investindustrial will be pushing the electrification of models produced by the various companies it owns. As Rimac already supplies the electric system Aston Martin needs to create the hybrid Valkyrie, it makes sense.
"Investindustrial's investment and team has been supporting management as it continues to innovate, both developing world-leading electric and hybrid vehicles and providing leading OEMs with best-in-class EV technology, ultimately speeding up the world's conversion to electric traction in support of the environmental and climate objectives of the UN's 2030 agenda."
This changes nothing for Rimac's current business model. Last year Rimac formed a new joint venture with Porsche, and together, the two brands took ownership of Bugatti. The Rimac Group owns a 55 percent stake in the new company, while Porsche owns the remaining 45 percent.
However, the Rimac Group is still a separate entity with multiple investors.
Meanwhile, Rimac Bugatti is working on a replacement for the Chiron, which is set to arrive in 2025. Bugatti has stated that the W16 engine still has some time left, but that was before Rimac came into the picture. Now, an electric hypercar could live alongside a hybrid successor.
Given the performance figures attached to EVs, electrifying the next Bugatti is likely the only way to build a faster car.