Stuttgart, April 24, 2026, 13:03 CEST
Porsche agreed to sell its stakes in Bugatti Rimac and Rimac Group to a consortium led by New York-based HOF Capital, clearing the way for Croatia’s Rimac Group to take control of Bugatti. The deal ends Porsche’s direct role in one of the auto industry’s most closely watched hypercar partnerships.
The timing matters. Porsche is trying to release capital and narrow its focus after a grim 2025, when operating profit fell 93% and its operating margin dropped to 1.1% from 14.1% a year earlier, hit by U.S. tariffs and weaker demand in China.
The transaction covers Porsche’s 45% holding in Bugatti Rimac and its 20.6% stake in Rimac Group. BlueFive Capital is the largest investor in the HOF-led group, which also includes institutional investors from the United States and Europe; financial terms were not disclosed and closing is expected before the end of 2026, subject to regulatory approvals.
Porsche CEO Michael Leiters framed the sale as a retreat to the company’s main business, saying Porsche would “focus Porsche on the core business.” He also said the German carmaker had helped build Rimac Technology into a Tier-1 supplier, meaning a company that sells systems directly to automakers. Porsche Newsroom
Mate Rimac, founder of Rimac and CEO of Bugatti Rimac, said the new structure would allow the company to “execute even faster” on its long-term plans. HOF Capital will become Rimac Group’s largest shareholder alongside Rimac after the deal closes, the companies said. PR Newswire
The new money brings a different kind of backer into Bugatti. HOF Capital says it manages more than $10 billion, while BlueFive Capital says it has $15 billion in assets under management, the pool of money it invests for clients; BlueFive founder Hazem Ben-Gacem called the deal “more than simply a financial transaction.” Business Wire
The pressure is not confined to supercars. Mercedes-Benz, another German premium maker, is trying to avoid a China price war with BYD after a 27% first-quarter sales drop there, underscoring how domestic electric-vehicle brands are forcing Europe’s luxury car groups to defend margins and market share.
For Bugatti, near-term product plans may not shift sharply. PistonHeads noted that Bugatti already operates closely with Rimac and pointed to the Tourbillon, Bugatti’s Chiron successor, as evidence that combustion engines remain central to the brand even under Rimac.
Still, the deal carries uncertainty. It needs regulatory clearance, the price was kept confidential, and Porsche has not said how much cash it expects to receive; that leaves investors with little immediate detail on how far the sale will help its turnaround.
The sale also closes a long chapter for Volkswagen’s luxury empire. German reports said the move ends VW Group’s link to Bugatti, a brand it acquired in 1998, and marks Porsche’s full exit from the Bugatti Rimac venture.
Leiters, who took charge this year, is under pressure to simplify Porsche after its costly strategy reset. The Bugatti sale gives Rimac and private capital the runway; for Porsche, it is a cleaner, smaller map.
