Porsche AG Sells Its Stake in Bugatti Rimac and Rimac Group to a Consortium Led by HOF Capital

Apr 24, 2026, 13:54

Introduction

Porsche AG has agreed to sell its 45% stake in Bugatti Rimac and its 20.6% stake in Rimac Group to a consortium led by HOF Capital, with BlueFive Capital as the largest investor. This deal represents Porsche's complete exit from the joint venture established in 2021.

Main Body

Bugatti Rimac was created in 2021 as a joint venture between Porsche (holding 45%) and Rimac Group (holding 55%). The venture combined Bugatti, a luxury brand revived by Volkswagen Group in 1998 under Ferdinand Piech, with Rimac, a Croatian company that specializes in high-performance electric powertrains. The original Bugatti brand dates back to 1909, and its modern version returned under VW Group's management. In 2021, VW Group reduced its direct involvement by transferring Bugatti to the joint venture. Porsche's decision to sell its stakes comes at a time when the automotive industry is under pressure to consolidate. This pressure is caused by slowing growth, rising costs, and lower profit margins due to tariffs and political and trade problems. Porsche CEO Dr. Michael Leiters stated that the sale shows a focus on Porsche's core business. He also acknowledged that Porsche was an early-stage investor in Rimac Group and helped develop Rimac Technology into a Tier-1 automotive supplier. Mate Rimac, CEO of Bugatti Rimac, expressed gratitude for Porsche's support and indicated that the new ownership structure will allow the company to execute its long-term vision more quickly. Under the terms of the deal, Rimac Group will take full operational control of Bugatti Rimac and form a strategic partnership with BlueFive Capital and HOF Capital. Financial terms were not disclosed; however, Bloomberg reported that Mate Rimac had made an initial offer in 2025 that estimated the joint venture's value at slightly over €1 billion. HOF Capital was co-founded by a member of Egypt's Sawiris family, and BlueFive Capital is led by former Investcorp executive Hazem Ben-Gacem, who described the opportunity as extending beyond a financial transaction. Following the announcement, Porsche's shares on the Frankfurt exchange fell by 1.6% in early trading.

Conclusion

The sale shows Porsche's strategic refocusing as the automotive industry consolidates. Rimac Group now has full control of Bugatti Rimac with new financial partners, while Porsche has exited its investment in both the joint venture and Rimac Group.

Vocabulary Learning

consolidate
To combine companies or operations to become more efficient and competitive.合併，整合
Example:The automotive industry is under pressure to consolidate due to slowing growth and rising costs.
exit
The act of leaving an investment or business completely.退出
Example:This deal represents Porsche's complete exit from the joint venture.
joint venture
A business arrangement where two or more parties pool resources for a specific project.合資企業
Example:Bugatti Rimac was created in 2021 as a joint venture between Porsche and Rimac Group.
long-term vision
A plan or goal for the distant future, often guiding strategic decisions.長期願景
Example:The new ownership structure will allow the company to execute its long-term vision more quickly.
stake
A share or financial interest in a company.股份，股權
Example:Porsche AG has agreed to sell its 45% stake in Bugatti Rimac.

Sentence Learning

Bugatti Rimac was created in 2021 as a joint venture between Porsche (holding 45%) and Rimac Group (holding 55%).
Passive voice (was created) to focus on the action rather than who did it.被動語態（was created）強調動作本身而非執行者。
The venture combined Bugatti, a luxury brand revived by Volkswagen Group in 1998 under Ferdinand Piech, with Rimac, a Croatian company that specializes in high-performance electric powertrains.
Relative clause 'that specializes' describes Rimac; passive 'revived by' gives background.關係從句「that specializes」描述Rimac；被動語態「revived by」提供背景。
Porsche's decision to sell its stakes comes at a time when the automotive industry is under pressure to consolidate.
Relative clause 'when' links time to situation.關係從句「when」將時間與情況聯繫起來。
This pressure is caused by slowing growth, rising costs, and lower profit margins due to tariffs and political and trade problems.
Passive 'is caused by' shows cause-effect; 'due to' introduces reasons.被動語態「is caused by」顯示因果關係；「due to」引出原因。
Rimac Group now has full control of Bugatti Rimac with new financial partners, while Porsche has exited its investment in both the joint venture and Rimac Group.
'while' contrasts two simultaneous actions.「while」對比兩個同時發生的動作。