Stuttgart, April 24, 2026, 13:03 CEST
Porsche is selling its shares in both Bugatti Rimac and Rimac Group to a consortium fronted by HOF Capital out of New York, paving the way for Rimac Group in Croatia to seize control of Bugatti. With this move, Porsche steps back from a high-profile hypercar alliance that’s drawn industry attention.
Timing is critical here. Porsche is looking to unlock capital and sharpen its priorities, coming off a brutal 2025 that saw operating profit plunge 93% and margins shrink to just 1.1%—down steeply from 14.1% the year before. U.S. tariffs, along with sluggish demand in China, hit hard.
Porsche is selling its 45% stake in Bugatti Rimac and a 20.6% interest in Rimac Group. The buyout group, led by HOF and backed by major investor BlueFive Capital, also counts institutional investors from both the U.S. and Europe among its participants. No financial details were released. The deal is expected to close before the end of 2026, pending regulatory signoff.
Porsche chief Michael Leiters described the move as narrowing the company’s sights back onto its main business, saying Porsche plans to “focus Porsche on the core business.” Leiters also pointed out that the German automaker played a key role in developing Rimac Technology into a Tier-1 supplier—one that sells systems straight to automakers. Porsche Newsroom
Mate Rimac, who leads both Rimac and Bugatti Rimac, said the revamped structure should let the company “execute even faster” on its long-term strategy. Once the deal is done, HOF Capital will stand as Rimac Group’s biggest shareholder alongside Rimac, according to statements from both companies. PR Newswire
The fresh investment introduces a new breed of investor to Bugatti. HOF Capital reports assets under management north of $10 billion. BlueFive Capital, for its part, puts its AUM at $15 billion—the capital it deploys on behalf of clients. BlueFive founder Hazem Ben-Gacem described the agreement as “more than simply a financial transaction.” Business Wire
Supercars aren’t the only ones feeling the squeeze. Mercedes-Benz is under pressure too. The German luxury brand is steering clear of a price war with BYD, after its first-quarter sales in China tumbled 27%. It’s a sharp reminder: local EV makers are pushing Europe’s luxury automakers to protect both profit margins and market share.
Bugatti’s immediate product lineup probably stays on course. According to PistonHeads, the company works hand-in-glove with Rimac already and, with the Tourbillon—Chiron’s replacement—still running a combustion engine, Rimac’s influence isn’t pushing Bugatti away from its core just yet.
Even so, plenty of question marks hang over the deal. Regulatory approval is still up in the air, the price tag remains undisclosed, and Porsche hasn’t specified its expected cash haul. Investors are left guessing just how much the sale will boost the company’s recovery efforts.
The deal draws a line under Volkswagen’s long-running involvement with Bugatti. German media noted this brings VW Group’s association with the storied brand—bought back in 1998—to a close, and signals Porsche’s complete withdrawal from the Bugatti Rimac partnership.
Leiters stepped in this year and now faces calls to streamline Porsche following an expensive strategy overhaul. Offloading Bugatti hands Rimac and private investors more room to move; for Porsche, the portfolio looks leaner, less tangled.
