Porsche has agreed to sell its stake in Bugatti Rimac and Rimac Group to a consortium led by HOF Capital, a New York-based investment firm that is an investor in companies such as SpaceX, OpenAI and Anthropic. The transaction agreement was signed on April 24, 2026. The completion of the transaction is expected after regulatory approvals from the competent authorities.
In 2021, Porsche and the Rimac Group founded Bugatti Rimac as a joint venture to serve as a home for the iconic Bugatti brand. In the joint venture, Porsche holds a minority share of 45%, while Rimac Grupa owns 55% of the share. Porsche also holds a 20.6% stake in the Rimac Group. As part of the transaction announced today, Porsche will sell its shares in Bugatti Rimac and Rimac Grupa to a consortium led by HOF Capital, while Rimac Technology will remain a supplier of key components for Porsche and other brands of the Volkswagen Group. The investor consortium includes BlueFive Capital as the largest investor, as well as a group of institutional investors from the US and Europe.
Following the closing of the transaction, Rimac Group will take control of the entire Bugatti Rimac, which is also the 100% owner of Bugatti Automobiles in France, through a strategic partnership with HOF Capital and BlueFive Capital to support continued growth. HOF Capital will additionally join Rimac Group as the largest shareholder alongside Mate Rimac, founder and CEO of Bugatti Rimac. Subject to regulatory approvals, the transaction is expected to close by the end of 2026. The parties involved have agreed to keep the financial terms of the transaction confidential, except where disclosure is required in accordance with applicable financial reporting obligations.
Dr. Michael Leiters, CEO of Porsche AG, stated that in creating the joint venture, Bugatti Rimac, together with the Rimac Group, have successfully laid the foundation for the future of the Bugatti brand. As an early investor in the Rimac Group, Porsche has made a significant contribution to the development of Rimac Technology into a Tier-1 automotive technology company. Now, with the sale of our stake, we want to show that we will focus on Porsche’s core business. We would like to thank Mate Rimac and his team for the constructive cooperation and mutual trust over the past years.
– Porsche has been our key partner and we are extremely grateful for its role in establishing Bugatti Rimac. With the strong foundation that its support has provided, we now have a structure that allows us to realize our long-term vision even faster. We look forward to working with our new partners while continuing to cooperate with Porsche and other members of the Volkswagen Group as a supplier of key components such as batteries and drive systems – said Mate Rimac, CEO of Bugatti Rimac.