ZAGREB, Croatia — Croatian electrical supercar builder Rimac is taking on the long-lasting French producer Bugatti in a deal that’s reported to be value hundreds of thousands of euros.

Rimac stated Germany’s Volkswagen Group, together with the Porsche division — which owns a majority stake in Bugatti — plans to create a brand new three way partnership. The brand new firm will probably be referred to as Bugatti-Rimac.

Rimac Automobili introduced Monday that it is going to be combining forces with Bugatti to “create a brand new automotive and technological powerhouse.”

Rimac has progressed in 10 years from a one-man storage startup to a profitable firm that produces electrical supercars. Mate Rimac, who based the corporate in 2009, says the enterprise is an “thrilling second” and calls the mixture of the businesses “an ideal match for one another.”

Porsche will personal 45% of Bugatti-Rimac whereas Rimac Automobili will maintain the remaining 55% stake, in keeping with Croatian media stories. Monetary particulars of the deal weren’t revealed.

Bugattis will proceed to be assembled in jap France, the place the corporate was established in 1909. The automobiles will use engines developed and made in Croatia.

“In an business evolving at ever-increasing velocity, flexibility, innovation and sustainability stay on the very core of Rimac’s operations,” the corporate stated. “Uniting Rimac’s technical experience and lean operations with Bugatti’s 110-year heritage of design and engineering prowess represents a fusion of main automotive minds.”