Porsche is moving on from its minority ownership of Bugatti Rimac.

Porsche, which is part of the Volkswagen Group, and Rimac Group established the Bugatti Rimac joint venture in 2021, with Porsche holding a 45 per cent stake and the Rimac Group the majority 55 per cent. Porsche also holds a 20.6 per cent stake in Rimac Group.

The creation of Bugatti Rimac united the Bugatti and Rimac automotive brands under one business umbrella.

Now, Porsche will sell its entire stake in both Bugatti Rimac and Rimac Group to a consortium led by New York-based investment firm HOF Capital, with BlueFive Capital being the largest investor.

The sale still requires regulatory approvals, and is expected to be completed before the end of 2026.

“In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future,” Porsche AG CEO Michael Leiters said in a news release.

“And as an early-stage investor of Rimac Group, Porsche made a significant contribution to developing Rimac Technology into an established Tier-1 automotive technology company. Now, with the sale of our stake, we demonstrate that we will focus Porsche on the core business. We would like to thank Mate Rimac and his team for the constructive and trusting co-operation over the past years.”

Mate Rimac is the founder and president of the Rimac Group and CEO of Bugatti Rimac.

“Porsche has been a crucial partner, and we are deeply grateful for their role in establishing Bugatti Rimac,” he said in the release. “With the strong foundations their support has provided, we now have a structure that allows us to execute even faster on our long-term vision. We look forward to our collaboration with our new partners.”

Porsche revenue decline

The sale of Bugatti Rimac comes amid Porsche AG’s decline in revenue and massive drop in operating profits.

The company called the 2025 financial year challenging with revenue falling to 36.27 billion euros in 2025, down from 40.08 billion euros in 2024.

The brand’s operating profit fell 92.7 per cent, from 5.64 billion euros in fiscal year 2024 to 413 million euros in fiscal 2025.

The company took financial hits related to the realignment of its product strategy and rescaling of the company (approximately 2.4 billion euros), costs from battery activities (approximately 700 million euros) and U.S. tariffs (approximately 700 million euros).

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