Title: Porsche Completes Sale of Bugatti Stake, Exits Joint Venture with Rimac as Volkswagen Group Fully Divests from Hypercar Brand

Porsche has agreed to sell its equity stakes in Bugatti Rimac and Rimac Group to a consortium led by HOF Capital, a New York-based investment firm, according to an announcement made on April 24, 2026. The transaction agreements were signed on that date, with completion expected before the end of 2026, subject to regulatory clearances. As part of the deal, Porsche will fully divest its 45 percent stake in the Bugatti Rimac joint venture and its 20.6 percent ownership in Rimac Group. The consortium also includes BlueFive Capital as its largest investor, along with a group of institutional investors across the United States and the European Union. Porsche and Rimac Group established Bugatti Rimac in 2021 as a joint venture to serve as the home for the iconic Bugatti brand. In that arrangement, Porsche held a minority stake of 45 percent, while Rimac Group owned 55 percent. Porsche’s additional 20.6 percent stake in Rimac Group reflects its earlier investment in the Croatian technology company. Following the transaction, Rimac Group is set to take control of Bugatti Rimac and form a strategic partnership with HOF Capital and BlueFive Capital to support its continued growth. HOF Capital will join Rimac Group as its largest shareholder alongside Mate Rimac, founder of Rimac and CEO of Bugatti Rimac. Dr. Michael Leiters, CEO of Porsche AG, stated that the sale demonstrates Porsche’s commitment to focusing on its core business. He emphasized that establishing the Bugatti Rimac joint venture laid the foundation for Bugatti’s future and that Porsche’s early investment helped develop Rimac Technology into an established Tier-1 automotive technology company. Mate Rimac expressed gratitude for Porsche’s role in establishing the joint venture, acknowledging the German automaker as a crucial partner in the venture’s creation. The sale marks the end of Volkswagen Group’s involvement in Bugatti, which began when Volkswagen acquired the French automaker in 1998 and continued through the 2021 joint venture. The financial terms of the transaction remain confidential, except where disclosure is required under applicable financial reporting obligations. Porsche reported more than $5 billion less in profits in 2025 compared to 2024, a factor cited in broader industry context as influencing strategic decisions around asset allocation.