Five years after joining forces, Porsche and Bugatti Rimac are heading in different directions. The German brand has sold its share in the French-Croatian outfit to US-based HOF Capital for an undisclosed amount, although estimates suggest it could be around €1 billion. The move positions HOF Capital as the largest shareholder in Rimac Group alongside founder Mate Rimac.
The Bugatti Rimac joint venture came together in 2021 when Volkswagen Group offloaded its Bugatti stake, allowing Rimac to take a 55 percent share while Porsche held the remaining 45 percent. At the same time, Porsche maintained a 20.6 percent interest in Rimac Group itself.
With the new agreement in place, Rimac Group assumes full operational control of Bugatti Rimac, while HOF Capital and its key backer Blue Five will focus on steering long-term strategic growth.
Porsche’s involvement in Bugatti Rimac dates back to a period when Oliver Blume was leading the brand while also overseeing Volkswagen. Industry insiders have pointed to growing tension between Porsche and Rimac, reportedly linked to differing views on Bugatti’s future direction. Mate Rimac was notably vocal about rejecting fully electric hypercar proposals to replace the Chiron, citing limited market appetite at the time, even as Volkswagen and Porsche were heavily committed to electrification strategies. By 2025, Rimac had already signalled interest in acquiring Porsche’s stake.
Since then, leadership at Porsche has shifted, with former McLaren boss Michael Leiters stepping in. It is understood, however, that the decision to exit the partnership had been made before his arrival. Leiters noted that the collaboration helped secure Bugatti’s future and supported the rise of Rimac Technology as a Tier-1 supplier, but emphasised that Porsche is now sharpening its focus on its core operations.
Mate Rimac acknowledged Porsche’s role in building the joint venture, highlighting that the groundwork laid over the past few years now allows the company to move faster in executing its long-term plans, while also welcoming the involvement of new investment partners.
Looking ahead, Bugatti is preparing to hand over the first of its 250 Bugatti Tourbillon units to customers before the end of the year.