Retail & Consumer

Porsche to decide soon on Bugatti future - CEO

1 minute read
1/2

A site organizer walks by a Bugatti Veyron at the Guangzhou International Automobile Exhibition in Guangzhou, Guangdong province, November 22, 2013. Luxury car dealers are resorting to offering customers massages, mini-golf and other gimmicks, hoping this will give them an edge in a ferociously competitive Chinese market where brand loyalty is less common than in the West. REUTERS/Stringer

WEISSACH, Germany, June 21 (Reuters) - Volkswagen (VOWG_p.DE) will soon decide on the future of its luxury brand Bugatti, Oliver Blume, Volkswagen management board member and CEO of Porsche AG, said on Monday.

Volkswagen in March said it was working on a strategic partnership with Croatian electric hypercar maker Rimac, which will likely result in a joint venture between Porsche and Rimac, with Porsche as a minority partner.

Reporting by Ilona Wissenbach; Writing by Riham Alkousaa; Christoph Steitz

Our Standards: The Thomson Reuters Trust Principles.

More from Reuters