One of the youngest names in the sports car world could soon take full control of one of the oldest. According to Bloomberg, Mate Rimac is looking to buy out Porsche’s stake in the Bugatti Rimac joint venture, the company responsible for building hypercars such as the Bugatti Tourbillon and Rimac Nevera.
The Croatian founder confirmed that discussions with Porsche leadership are underway, and if successful, Rimac Group would take complete ownership of Bugatti, separating it entirely from its Volkswagen Group roots.
In an interview held in Singapore, Rimac explained that talks have been ongoing with Porsche shareholders, including members of the founding family. The 37-year-old entrepreneur acknowledged that emotions play a role in the negotiations, given the strong family and business legacy tied to Porsche and Bugatti.
Rimac’s goal is to gain greater control of the joint venture, which is preparing to debut the hybrid V16-powered Bugatti Tourbillon early next year. His company’s rapid rise has been extraordinary, and with a reputation built on innovation and performance, it’s understandable that Rimac wants to steer Bugatti Rimac’s long-term vision himself.
Porsche, meanwhile, faces its own challenges. With global demand for premium EVs softening, the brand has been forced to reassess production plans and cut costs. Selling its 45 percent stake in Bugatti Rimac could help free up capital and simplify its strategy.
Bloomberg previously valued the Bugatti Rimac venture at around $1.1 billion, suggesting Rimac would need roughly $495 million to complete the buyout. That funding is expected to come from a mix of private equity, international investors, and Rimac himself.
Even if Porsche does sell its stake in Bugatti Rimac, it won’t be completely out of the picture. The German automaker still owns 22 percent of Rimac Group, the parent company holding a 55 percent stake in the Bugatti Rimac partnership. Mate Rimac remains the largest shareholder in the Rimac Group with a 35 percent ownership, giving him strong influence over the company’s next chapter.