Porsche has agreed to sell its stake in Bugatti Rimac and the Rimac Group to a consortium led by HOF Capital, a New York-based investment firm that is an investor in companies such as SpaceX, OpenAI and Anthropic. The transaction agreement was signed on April 24, 2026. Completion of the transaction is expected after regulatory approvals from the competent authorities.
In 2021, Porsche and the Rimac Group founded Bugatti Rimac as a joint venture to serve as a home for the iconic Bugatti brand. In the joint venture, Porsche holds a minority share of 45%, while Rimac Group owns 55% of the share. Porsche also holds a 20.6% stake in the Rimac Group. As part of the transaction announced today, Porsche will sell its shares in Bugatti Rimac and the Rimac Group to a consortium led by HOF Capital, while Rimac Technology will remain a supplier of key components to Porsche and other brands of the Volkswagen Group. The consortium of investors includes BlueFive Capital as the largest investor, as well as a group of institutional investors from the US and Europe.
A new chapter for Bugatti
After the completion of the transaction, Rimac Group will take control of the entire Bugatti Rimac, which is also the 100% owner of Bugatti Automobiles in France, through a strategic partnership with HOF Capital and BlueFive Capital with the aim of supporting continuous growth. HOF Capital will additionally join the Rimac Group as the largest shareholder with Mata Rimacfounder and CEO of Bugatti Rimac.
Subject to regulatory approvals, the transaction is expected to close by the end of 2026. The parties involved have agreed to keep the financial terms of the transaction confidential, except when their disclosure is required pursuant to applicable financial reporting obligations.
Dr. Michael LeitersCEO of Porsche AG, stated: “During the creation of the joint venture Bugatti Rimac, together with the Rimac Group, we successfully created the foundations for the future of the Bugatti brand. And as an early investor in the Rimac Group, Porsche made a significant contribution to the development of Rimac Technology into a Tier-1 automotive technology company. Now, with the sale of our stake, we want to show that we will focus on the core business of Porsche. We want to thank Mata Rimac and his team for their constructive cooperation and mutual trust over the past years.”
Mate RimacCEO of Bugatti Rimac, stated: “Porsche has been our key partner and we are extremely grateful for its role in establishing Bugatti Rimac. With the strong foundation provided by its support, we now have a structure that allows us to realize our long-term vision even faster. We look forward to working with our new partners as we continue to work with Porsche and other members of the Volkswagen Group as a supplier of key components such as batteries and drive systems.”
Hisham ElhaddadCo-Founder and Managing Partner at HOF Capital, stated: “For more than a century, Bugatti has been a brand whose tradition and innovation operate at the highest level. We are proud to build a new chapter through cooperation with Mata Rimec and his team, combining disciplined growth with masterful tradition and originality that remain unsurpassed.”
Hazem Ben-GacemFounder and Chief Executive at BlueFive Capital, stated: “Bugatti is a symbol of automotive passion, created by Ettore Bugatti’s pursuit of beauty and performance. BlueFive Capital approaches this opportunity not only through a financial transaction, but we look forward to working together with the entire Bugatti Rimac team to honor that legacy for generations to come.”