Mate Rimac wants to buy Porsche’s 45 percent stake in Bugatti Rimac.
The deal could give him full control of both Rimac and Bugatti brands.
Porsche’s financial troubles make selling its Bugatti stake appealing.
Ambition has always been Mate Rimac’s calling card, and it seems his next move could redefine the balance of power in Europe’s hypercar world. The founder of Rimac and current head of the Bugatti Rimac group, Mate Rimac, has revealed that he wants to buy out Porsche’s stake in the joint venture.
If a deal like that were to go through, it would hand him full control over the company and the direction of both the Rimac and Bugatti brands, while potentially giving Porsche a welcome financial boost as it contends with declining sales.
Who Holds the Keys?
Rimac and Bugatti famously came together in 2021 through a complex tie-up where Porsche gave Mate Rimac control of Bugatti in return for a greater stake in the Rimac Group. As it stands, the Rimac Group owns 55 percent of Bugatti Rimac, with Porsche owning the remaining 45 percent.
At the time of that original deal, Mate Rimac owned 37 percent of the Rimac Group, while Porsche held 24 percent, Hyundai 12 percent, and a mix of smaller investors made up the final 27 percent.
Mate Rimac has reportedly made a preliminary offer for Porsche’s 45 percent stake earlier this year, valuing the joint venture at over €1 billion or $1.1 billion. He now confirmed that he wants to take over the joint venture with the assistance of an unnamed international investor group and private equity funds.
The Next Move
“It’s no secret that we are in discussions,” he told Bloomberg. “I just want to be able to make long-term decisions, to make long-term investments, and to do things in a different way, without having to explain to 50 people. When you negotiate with a corporation, there are so many factors. It’s families, it’s multiple families. It’s an emotional topic.”
Porsche had previously attempted to raise its share in the joint venture, but those plans ultimately fell through.
Now, with the German sports car maker facing a significant drop in sales this year, shelving projects such as the K1 SUV, and scaling back some of its electric vehicle ambitions, it may see this as the right moment to sell its stake in Bugatti Rimac.
YangWang U9 uses four electric motors to produce a total of 2,978 hp.
BYD will build just 30 examples of its flagship hypercar worldwide.
At 308.4 mph, the U9 outsprinted the Chiron Super Sport 300+.
There’s a new name at the very top of the production car speed charts, and it doesn’t come from Europe, Japan or America. Instead, it’s BYD’s YangWang brand that has grabbed headlines. Not long after the YangWang U9 Track Edition set an electric car top speed record, the hypercar returned with a new name, the U9 Xtreme, and delivered something extraordinary. On its latest run, it reached 308.4 mph, or 496.22 km/h.
The vmax was achieved at the ATP Papenburg high-speed oval in Germany with Marc Basseng behind the wheel. Because since the record was only logged in a single direction, SSC’s Tuatara still retains the official two-way average title at 282.9 mph (455.3 km/h), at least for now.
Taking On The Big Guns
Even with that caveat, the numbers are remarkable. The U9 Xtreme eclipsed the Bugatti Chiron Super Sport 300+, which Andy Wallace drove to 304.77 mph (490.48 km/h) in 2019, also in a one-way run. For a Chinese EV to edge past one of the most revered European hypercars marks a significant milestone in itself.
High power is one of the key reasons behind the U9 Xtreme’s monumental top speed. It features four electric motors that combine to produce 2,978 hp, more than double the 1,288 hp output of the regular U9. It is also the first production car to feature a 1,200-volt platform and has significantly denser batteries than all other BYD models.
Production will be extremely limited, with just 30 cars scheduled to be built. Pricing remains under wraps, but it is unlikely BYD will struggle to find buyers for a machine with this kind of performance and bragging rights.
Flat-Out At Papenburg
An onboard clip shows the electric hypercar on its way to the record top speed. Basseng drove around the sloped curve of the oval at over 186 mph (300 km/h) before pinning the throttle and gaining speed at a truly shocking pace. The car roars past 280 mph (450 km/h) and 292 mph (470 km/h) with ease and doesn’t even appear to break a sweat reaching 308 mph (496 km/h).
It appears likely the car could have breezed past 310.6 mph (500 km/h), but Basseng had to lift off the throttle and jump on the brakes as the car started to drift towards the left-hand barrier next to the track.
A Nurburgring Record Too
It’s not just the top speed of the YangWang U9 Xtreme that’s impressive. BYD has also confirmed it has lapped the Nurburgring Nordschleife in 6:59.157, snatching the EV production car record away from the Xiaomi SU7 Ultra that lapped the circuit in 7:04.957 earlier this year.
Vacuum maker Dreame has revealed renderings of its first ever EV.
The car looks like a Bugatti Chiron with an extra meter of wheelbase.
Dreame plans to present a prototype at January’s CES in Las Vegas.
A Chinese company whose business involves making things that literally suck has teased its first car, which definitely doesn’t. But we see legal trouble brewing because vacuum maker Dreame’s maiden EV is a dead ringer for a Bugatti Chiron, only reimagined with four doors.
The exterior renders, which seem to have been created entirely or at least partially with AI (telltale signs include the grille pattern) were shared on social media by Dream Technology founder Yu Hao. They show a swoopy four-door coupe that could easily pass for a stretched Bugatti Chiron variant that never made production.
CES Debut?
Chinese media reports the new automotive division of the company plans to display a physical prototype of the car at the Consumer Electronics Show (CES) in Las Vegas next January.
Though not an exact clone, the design is similar enough to make you do a double take. The headlights are different but the other core Chiron design elements like the horseshoe grille, central spine and C-shaped rear quarter motif are shamelessly carried across.
The interior at least looks more original, and doesn’t feature the vertical bank of dials fitted to the Chiron, whose steering wheel was milled from a single chunk of aluminium billet, but which didn’t feature any kind of touchscreen. That of course would be absurd for a Chinese car in 2027, so Dream Technology’s Chiron-a-like has a large widescreen tablet mounted above the console, plus a secondary display on the console itself.
Last month Dreame, which was founded in 2017 and styles itself as China’s answer to Apple, confirmed plans to enter the automotive space in 2027 with an electric hypercar capable of outrunning machines from Bugatti and Koenigsegg.
The company is currently scouting potential production locations for a new plant to build the EV in Berlin, Germany, which include a site next door to Tesla’s Gigafactory, Car News China reports. Yu Hao previously posted images of the Tesla plant, along with text that said “factories in Europe are being selected for several businesses.” And Chinese media outlet Jieman claims Dreame is getting cosy with French bank BNP Paribas to bring its automotive plans to fruition.
While the Chiron was equipped with a quad-turbo W16 making 1,479 hp (1,500 PS / 1,103 kW) in stock form and its Tourbillon successor has a naturally-aspirated hybrid V12 that cranks out 1,775 hp (1,800 PS / 1,324 kW), Dreame’s car will be a pure EV.
Will Bugatti’s lawyers suck up this egregious theft of its IP, or will they fight back? We’ve reached out to the company for comment. Check out the images below of the pretend Chiron and the real thing.
China-based Dreame Technology wants to enter the automotive industry.
The company currently makes vacuum cleaners and household appliances.
They want to build an electric hypercar and pursue a top speed record.
Chinese automakers have been steadily pushing the limits of speed and track performance, often outpacing their Western rivals in recent years. Now, an unlikely challenger has joined the race: a company best known for its vacuum cleaners aims to build “the world’s fastest car.” Ambitious stuff for a brand that made its name chasing dust bunnies.
The company behind the plan is Dreame Technology, which refers to itself as the “Apple of China.” According to its website, Dreame’s current product lineup includes cordless and robotic vacuum cleaners, air purifiers, hair dryers, robotic lawn mowers, and pool cleaners. Founded in 2017, Dreame has since moved beyond its home turf, carving out a growing presence in the US and other international markets.
In a post on Chinese social media, Dreame laid out plans to enter the automotive world, following in the footsteps of tech groups like Xiaomi and Huawei. Unlike them, however, Dreame is aiming straight at the hypercar elite, setting its sights on Bugatti and Koenigsegg with a goal of chasing speed records.
It’s worth recalling that another company known for its vacuum cleaners, Dyson, once explored a Tesla-rivaling EV before shelving the project altogether as “not commercially viable.” Dreame clearly hopes for a different outcome.
The Ambitious Plan
According to the announcement, Dreame is not starting “from scratch”. Instead, the company plans to leverage China’s mature EV supply chain and manufacturing ecosystem, positioning itself “on the shoulders of giants.” That phrasing hints at potential collaborations with established suppliers or automakers, which could give the project more credibility than it might appear to have at first glance.
Dreame’s track record with innovation could work in its favor. By the end of last year, the company had filed more than 6,000 patents, some reportedly connected to electric vehicle technologies. According to Chinese media outlet Lyiou, Dreame Auto, the firm’s newly formed automotive division, already employs around 1,000 staff, including specialists from the vehicle manufacturing sector.
That figure sounds impressive, but whether it reflects the depth of expertise needed to challenge Bugatti or Koenigsegg is another matter entirely.
The same source indicates that the electric hypercar is set to debut in 2027. What remains unclear is whether the Bugatti-style silhouette shown in the official teaser represents the actual model in development. Either way, it will be worth watching to see if the finished product lives up to the ambitious vision behind it.
Record-Breaking Rivals
To understand what Dreame is up against, consider the current benchmarks. The official speed record for a production car is held by the SSC Tuatara, which hit 474.8 km/h (295 mph) in 2022. A prototype of the Bugatti Chiron Super Sport 300+ reached a top speed of 490.48 km/h (304.77 mph) back in 2019, but it didn’t count as a record because it wasn’t replicated in the opposite direction.
In August 2025, the BYD YangWang U9 Track Edition became the world’s fastest production EV, hitting an impressive 472.41 km/h (293.54 mph) at a test facility in Germany. The Chinese EV stole the record from the Rimac Nevera R, which had clocked 431.45 km/h (268.2 mph) in July 2025.
Below is a translated version of Dreame’s official announcement, shared with employees and the public:
Dear Dreame colleagues: Today, Dreame officially announces its plan to build the world’s fastest car. This was no light decision, nor was it a whim. From drafting our first car-building plan at Tsinghua SkyWorks in 2013 to now standing at the pinnacle of the global clean energy sector, we have spent twelve years waiting for Dreame’s “opportunity.”
We revere this industry. Car manufacturing is the crown jewel of industry, the ultimate battleground of technology, and a grueling, life-or-death expedition. Competition has become multi-faceted, all-encompassing, and high-intensity, challenging not only technological innovation and iteration speed but also system capabilities, supply chain integration, brand positioning, and global market insight. We understand that only with awe can we see the path forward clearly, and only with humility can we go further.
But we also believe that great dreams are born from fearlessness. We are fearless because we are clear-headed. We are not adventurers trying to “build from scratch,” but rather we stand on the shoulders of giants in Chinese manufacturing. Countless Chinese companies have, through decades of hard work, forged the world’s most mature electric vehicle supply chain and technology ecosystem.
Our mission is to achieve global optimization: using the right products, the right strategy, and the right pace to bring Chinese smart manufacturing to the world’s high-end market. We are fearless because we are uniquely born and bred in the global market. In China, we have become the undisputed leader in the cleaning sector. Globally, we hold the top spot in over 20 countries and regions. We consistently position ourselves at the high end, insisting on value over price.
We are one of the very few Chinese brands to quickly rise to the top in every market we enter. For this reason, we are often called the “Apple of China.” We know how to make global users pay for innovation and applaud our experience. This time, in the automotive sector, we will once again prove that Chinese brands can not only be high-end, but also become symbols of global consumer love. We are fearless because we are determined.
This is not a gamble, but a test. It will test all our past accumulation: technological research and development, organizational culture, global operations… We have made sufficient strategic preparations. But we also believe that the real barrier is not capital, but the ability to make the “right products.”
We will not waste a single penny on the wrong path. Fellow students, the automotive industry will be another full-scale explosion of our technological ideals and business acumen. We may not be the first to set out, but we will be the most determined. Because we are fearless, we dare to act; because we firmly believe, we arrive. Now, let’s set off together!
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