Porsche has signed an agreement to transfer its entire 45% stake in Bugatti Rimac and its entire 20.6% stake in Rimac Group to an international consortium led by HOF Capital. The transaction is expected to be completed before the end of 2026. It is reported that the overall valuation of the Bugatti joint venture is about 1 billion euros, equivalent to about 7 billion yuan, and the Volkswagen Group's 28-year control of Bugatti has come to an end.
This sale is an important measure for Porsche to cope with operating pressure and focus on its core business.
In fiscal year 2025, Porsche’s revenue fell 9.5% year-on-year, operating profit plummeted 92.7%, and the return on sales shrank significantly. At the same time, sales in the Chinese market continued to decline, and the dealer network shrank. The company urgently needs to withdraw funds and optimize its asset structure.
Bugatti has extremely low annual output and huge investment in R&D. It has been in a state of high cost and low profit for a long time, and has become a divested non-core asset.
The acquirer, HOF Capital, is a New York venture capital fund with over US$7 billion in assets under management. Its investment portfolio covers a number of technology unicorns. Abu Dhabi BlueFive Capital is the largest investor in the consortium.
After the transaction is completed, Rimac Group still holds 55% of Bugatti Rimac's equity and obtains full operational control. HOF Capital becomes one of the largest shareholders of Rimac Group, equivalent to founder Mate Rimac's shareholding.
Bugatti was founded in 1909. It changed owners many times after World War II and was acquired by Volkswagen in 1998. It was once an important symbol of Volkswagen’s luxury car layout.
