- Porsche will divest from Bugatti Rimac and Rimac Group.
- It is selling its stake in both companies to a New York-based consortium.
- Porsche and Rimac Group established Bugatti Rimac in 2021, with Porsche taking a 45 percent stake in the new company.
Porsche’s involvement with Bugatti Rimac and Rimac Group is over. The automaker is divesting from both brands, selling its stake in the companies to a New York-based consortium.
The announcement arrives less than five years after Porsche and Rimac Group established Bugatti Rimac, with the Croatian company holding a 55 percent stake and Porsche a 45 percent stake. The sale also includes Porsche’s 20.6 percent stake in Rimac Group.
“Porsche has been a crucial partner, and we are deeply grateful for their role in establishing Bugatti Rimac,” said Bugatti Rimac CEO Matt Rimac. The sale still requires regulatory approval before completion, and the terms were not disclosed.
It’s unclear what, if anything, will change at Bugatti Rimac. The consortium is being led by HOF Capital, which has investments in SpaceX, Anthropic, Epic Games, and now Bugatti.
Porsche’s Strategy Shift
It’s hard to ignore history with this announcement. Just last month, Porsche announced that its operating profit fell by 92.7 percent due to the costs of shifting its electric vehicle strategy, with the company’s accounts taking a €3.9 billion hit.
In the announcement, Porsche CEO Michael Leiters said, “Now, with the sale of our stake, we demonstrate that we will focus Porsche on the core business,” echoing a similar comment he made in March at the company’s annual press conference.
Part of the €3.9 billion hit includes about €2.4 billion allocated for new products, so Porsche isn’t broke. The automaker is facing tremendous challenges on several fronts, including the cost of US tariffs and fierce competition in China, which are also affecting Porsche’s parent company, Volkswagen Group.
Motor1’s Take: Porsche is not in dire trouble, but the changing automotive landscape has forced the company to reconsider its roadmap and shift its strategy accordingly. It’s sad to see Porsche walk away from Bugatti Rimac, and we hope the automaker’s new partners help, rather than hinder, the company’s future.