Porsche has agreed to sell its minority holdings in Bugatti Rimac and Rimac Group to a consortium led by New York investment firm HOF Capital.
As part of the deal, Porsche will dispose of its 45% interest in Bugatti Rimac, the joint venture created with Rimac Group in 2021, as well as its 20.6% stake in Rimac Group.
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Bugatti Rimac was established to bring together Bugatti’s hypercar engineering and Rimac Group’s electric vehicle technology.
The buyer group includes BlueFive Capital as the largest investor, alongside other institutional investors from the US and the European Union.
The companies have not disclosed the financial details of the sale.
Once the transaction is completed, Rimac Group will take control of Bugatti Rimac and form a strategic partnership with HOF Capital and BlueFive Capital aimed at supporting future expansion.
Porsche CEO Michael Leiters said: “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.”
HOF Capital is also set to become the largest shareholder in Rimac Group alongside Mate Rimac, the company’s founder and the CEO of Bugatti Rimac.
The sale agreements have been signed, and the transaction is expected to close before the end of 2026, pending regulatory approval and other customary conditions.
The disposal comes as Porsche carries out a strategic review after its operating profit fell 92.7% in FY25, adding to pressure on the German carmaker, which is majority-owned by Volkswagen.
Last month, Porsche said it would cut spending and introduce models positioned above the 911, as new CEO Michael Leiters seeks to lift profitability following the drop in earnings.
Its parent Volkswagen has also reported weaker performance.
In FY25, the group said earnings after tax declined 44.3% year-on-year as operating performance deteriorated while revenue was broadly unchanged.
Bugatti Rimac CEO Mate Rimac added: “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.”
