Porsche has sold its entire stake in hypercar firm Bugatti Rimac and the wider Rimac Group to a consortium led by New York-based investment firm HOF Capital. The agreement brings a close to nearly 30 years of the VW Group’s involvement and ownership of the Bugatti marque.
Until now, Porsche held a 45 percent minority stake in Bugatti Rimac and a 20.6 percent share in the Rimac Group. Both holdings were sold in full to the HOF Capital-led consortium, which includes BlueFive – a Gulf-based private investment firm – as its largest investor alongside a group of institutional backers from the US and EU.
Regulatory clearance is expected to pass before the end of 2026, after which Rimac Group will take full control of Bugatti Rimac. HOF Capital will become the largest external shareholder in the wider Rimac Group, alongside company founder and CEO Mate Rimac.
The sale officially ends a relationship that began in 1998, when VW acquired the Bugatti name from Italian entrepreneur Romano Artioli, who led the marque’s revival during the early ’90s. Under VW ownership, Bugatti launched the quad-turbocharged, W16-powered Veyron in the mid-2000s, followed by the Chiron in the 2010s, along with limited-production special editions including the Centodieci, Bolide and Mistral. The group’s long-serving chairman Ferdinand Piëch was closely associated with the Bugatti revival throughout this period.
By 2021, VW was ready to move on from Bugatti as it began to prioritise the electrification of its mass-market models. Speaking at the VW Group’s annual media conference, then-CEO Herbert Diess said Bugatti needed ‘an environment that’s stronger than being here in Wolfsburg in the volume segment.’
The solution was a joint venture with Croatian hypercar firm Rimac, leading to Bugatti Rimac’s formation in November 2021. Porsche, already a Rimac investor, took a 45 percent stake in the new company, with Rimac Group holding the majority stake of 55 percent. The partnership was intended to combine Bugatti’s heritage and craftsmanship with Rimac’s expertise in electrified powertrains and software.
Porsche’s financial performance deteriorated in 2024 and 2025 because of softening demand in China and the wider slowdown in demand for EVs. Between 2020 and 2025, Porsche had committed €15bn to electrification.
‘Now, with the sale of our stake, we demonstrate that we will focus Porsche on the core business,’ said Porsche CEO Dr Michael Leiters of the agreement.
‘Porsche has been a crucial partner, and we are deeply grateful for their role in establishing Bugatti Rimac,’ said Mate Rimac. ‘With the strong foundations their support has provided, we now have a structure that allows us to execute even faster on our long-term vision. We look forward to our collaboration with new partners.’
The financial terms of the 2026 deal have not been publicly disclosed. Completion is expected before the end of 2026, subject to regulatory clearance.
