Porsche sells 45% stake in Bugatti Rimac after five years of partnership
There was an interesting development among the powerhouses of the automotive world this week, as Porsche announced the sale of its equity stakes in Bugatti Rimac and the Rimac group to a consortium led by New York-based investment firm HOF Capital.
Porsche and Rimac Group established Bugatti Rimac as a joint venture in 2021 after Volkswagen sold its stake in Bugatti, in a move which saw Porsche holding a 45% stake compared to Rimac’s 55% share. The German brand also held a 20.6% share in the Rimac Group, with both stakes now being sold to HOF Capital for an undisclosed amount, although it is rumoured to be around the €1bn mark.
Porsche says the company will now shift its focus to its “core business”. It comes after Porsche chief Michael Leiters said last month that the company was facing "tricky times" as sales fell below expectations. The brand experienced a 93% drop in operating profit from €5.64bn in 2024 to €0.41bn in 2025, and it, along with other luxury manufacturers in Europe, is likely to face difficulties caused by newly implemented US tariffs.
The Rimac Group will now take control of Bugatti Rimac and form a “strategic partnership” with both HOF Capital and its largest investor, BlueFive Capital, to support its growth in the future.
Bugatti’s successor to the Chiron was revealed in 2025
Full reaction from Porsche, Bugatti Rimac, HOF Capital & BlueFive Capital
Dr Michael Leiters, CEO of Porsche AG: “In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future. And as an early-stage investor of Rimac Group, Porsche made a significant contribution to developing Rimac Technology into an established Tier-1 automotive technology company. Now, with the sale of our stake, we demonstrate that we will focus Porsche on the core business. We would like to thank Mate Rimac and his team for the constructive and trusting cooperation over the past years.”
Mate Rimac, CEO of Bugatti Rimac said: “Porsche has been a crucial partner, and we are deeply grateful for their role in establishing Bugatti 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 our new partners.”
Hisham Elhaddad, Co-Founder and Managing Partner of HOF Capital: “For over a century, Bugatti has stood apart as a brand where heritage and innovation coexist at the highest level. We are proud to partner with Mate Rimac and his team to help shape the next chapter, balancing disciplined growth with a tradition of craftsmanship and originality that remains unmatched.”
Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital: “Bugatti is a monument to automotive obsession, born from Ettore Bugatti’s pursuit of beauty and performance combined. BlueFive Capital approaches this opportunity as more than simply a financial transaction, and we look forward to working alongside the entire Bugatti Rimac team to honour that legacy for generations to come.”
Bugatti is set to deliver its 250 Tourbillon models to customers later this year, with prices starting from £3.2 million.
words: Mike Booth
pictures: Porsche & Bugatti