Porsche exits French Bugatti, selling stakes in Bugatti Rimac and Rimac Group
Porsche has completed the sale of its stakes in Bugatti Rimac and Rimac Group, ending Volkswagen Group’s direct involvement in the French Bugatti brand. The deal was closed on September 9 after regulatory approvals were obtained. As Motor1 reports, Porsche will receive around €1 billion from the sale, of which €250 million has already been allocated to the company’s pension obligations.
The end of Volkswagen Group’s involvement
Porsche’s exit marks the end of Volkswagen Group’s nearly 30-year direct involvement in Bugatti. Volkswagen acquired the rights to the Bugatti name in 1998 under the leadership of the group’s then CEO, Ferdinand Piëch. That same year, the group acquired Lamborghini and Bentley, expanding its presence in the luxury car segment.
One of Bugatti’s key projects during the Volkswagen era was the Veyron, a 1,000-horsepower hypercar. The brand’s lineup was later expanded with the Chiron, Mistral and Tourbillon. The latter is equipped with a naturally aspirated V16 engine and a hybrid system.
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Rimac retains control
Bugatti Rimac was created by Porsche and Rimac in 2021. Rimac Group then received a 55% stake in the joint venture, while Porsche held 45%. In addition, Porsche owned a 20.6% stake in Rimac Group.
Porsche’s stakes were acquired by a consortium led by HOF Capital, whose investors include Abu Dhabi-based BlueFive Capital. Rimac Group remains the majority shareholder in Bugatti Rimac, while Mate Rimac became president of Bugatti Automobiles and continues to serve as CEO of Bugatti Rimac.
Porsche explained the deal by its focus on its core business and investments in new models, including the successor to the first-generation Macan, as well as electric Boxster and Cayman models. According to the publication, Bugatti has orders through 2029.
