Porsche Sells Entire Stake in Bugatti-Rimac Joint Venture to Focus on Core Business

Porsche has announced the sale of its 45% stake in the Bugatti-Rimac joint venture to an investment consortium led by U.S.-based HOF Capital. The joint venture, established in 2021, holds a 20.6% stake each in France’s Bugatti and Croatia’s Rimac. Financial terms of the transaction were not disclosed, though sources familiar with the matter indicated that Bugatti-Rimac is valued at over $1 billion. Following the deal’s completion, the Rimac Group will assume full control of the joint venture and establish strategic partnerships with BlueFive Capital and HOF Capital. This divestment forms part of new Porsche CEO Michael Leiters’ broader strategy—since taking office—to sharpen focus on core brands, reduce costs, and alleviate capital pressures. The move comes after Porsche reported a 93% year-over-year plunge in operating profit for 2024, with its operating margin collapsing from 14.1% to just 1.1%. Both Porsche and Bugatti-Rimac declined to comment on the transaction.