Porsche Sells Bugatti Rimac Stakes for €1 Billion

In a significant strategic realignment, Porsche AG has successfully divested its substantial holdings in both Bugatti Rimac and the parent Rimac Group, realizing a total of €1 billion. This move marks a pivotal moment for the German automotive giant as it sharpens its focus on core operations under its Strategy 2035 initiative. The transaction sees BlueFive Capital emerge as a major shareholder in Bugatti Rimac, acquiring a 30% stake, while HOF Capital, alongside a consortium of investors, has increased its influence within the high-performance electric vehicle ecosystem.

The deal structure involved Porsche selling its 45% interest in the Bugatti Rimac joint venture and its 20.6% shareholding in the Rimac Group. BlueFive Capital, founded by Hazem Ben-Gacem, is set to appoint a board member and secure two observer seats on the Bugatti Rimac board, underscoring its commitment to the ultra-luxury automotive marque. The remaining 15% of Bugatti Rimac was acquired by HOF Capital and its investment partners.

HOF Capital, a key player in this transaction, has significantly deepened its involvement with the Rimac Group. Having previously participated in the company's substantial €500 million Series D funding round in 2022, HOF Capital now holds a 23.5% stake in the Rimac Group. This increased ownership grants HOF Capital a total of three supervisory board seats across both Rimac Group and Bugatti Rimac, with co-founder and managing partner Hisham Elhaddad and partner Josh Klaczek joining the respective boards.

The financial implications for Porsche are immediate and positive. The €1 billion in proceeds will bolster its financial position, with €250 million earmarked to address pension liabilities. This strategic capital allocation has prompted Porsche to upwardly revise its 2026 Automotive Net Cash Flow Margin guidance to a range of 5.5%–7.5%, a notable increase from the previously projected 3%–5%. This adjustment reflects a proactive approach to financial management following a challenging 2025, as the company navigates its long-term strategic roadmap.

This divestiture concludes Porsche's eight-year engagement with the Croatian electric hypercar innovator, which began with a 10% stake acquisition in 2018. The evolution of their partnership saw Porsche progressively increase its investment, culminating in its stake in the Rimac Group prior to this sale. The formation of Bugatti Rimac in 2021, a joint venture where Rimac Group holds a 55% majority, brought together the iconic Bugatti brand with Rimac's cutting-edge electric powertrain technology.

The transaction also signals a leadership transition within the Bugatti brand. Mate Rimac, the visionary founder and CEO of Bugatti Rimac, will assume the additional responsibilities of Chairman of Bugatti Automobiles, succeeding Christophe Piochon. Marko Brkljačić will join the leadership team as COO, and Hendrik Malinowski will serve as Chief Commercial Officer, positioning the company for its next phase of growth and innovation in the hypercar segment, a market characterized by extreme exclusivity and technological advancement.