Porsche closed the book on Bugatti Rimac on 9 September 2026. With regulatory clearances granted, the carmaker completed the sale of its equity stakes in both Bugatti Rimac and Rimac Group. The transaction agreements had been signed back on 24 April.
The Porsche AG Group receives proceeds of roughly one billion euros. Of that, 250 million euros goes straight into further funding pension obligations. The remainder reshapes the year: the Automotive Net Cash Flow Margin forecast for full year 2026 moves from 3 to 5 per cent up to 5.5 to 7.5 per cent. The half-year financial report had included no effects from divestments at all, which is why the revision looks so large.
What Porsche was holding
Bugatti Rimac was set up in 2021 as a joint venture between Porsche and Rimac Group, built to house the Bugatti brand. Rimac Group held 55 per cent, Porsche 45. Zuffenhausen also owned 20.6 per cent of Rimac Group, having backed the Croatian company as an early-stage investor long before Rimac Technology established itself as a Tier-1 supplier.
Both positions have now gone. Rimac Group takes control of Bugatti Rimac and forms a strategic partnership with HOF Capital and BlueFive Capital. HOF Capital, a New York investment firm, led the buying consortium and becomes the largest shareholder in Rimac Group alongside founder Mate Rimac. BlueFive Capital is the consortium’s biggest investor, joined by institutional investors across the US and the EU. The detailed financial terms stay confidential, except where reporting rules force disclosure.
Michael Leiters set the tone back in April. The sale, he said, demonstrates that Porsche is focusing on its core business. He also pointed to what the joint venture had achieved: a home for Bugatti, and a Porsche contribution to turning Rimac Technology into an established automotive technology company.
Mate Rimac credited Porsche as a crucial partner and described the new structure as one that lets his team execute faster on a long-term vision. Hisham Elhaddad of HOF Capital and Hazem Ben-Gacem of BlueFive Capital both leaned on heritage and on disciplined growth. Standard language for a closing announcement. Still, the framing matters: the incoming shareholders are presenting themselves as custodians rather than as investors in a hurry.
One move in a longer sequence
In late August, Porsche sold MHP, its IT consultancy arm, to Tata Consultancy Services. In early September came the reorganisation of the international sales structure, cutting five sales regions down to four. Bugatti Rimac belongs to the same run of decisions.
The financial backdrop explains the timing. The first-half 2026 results showed deliveries down 16.5 per cent while the operating margin recovered to 7.8 per cent, with full-year guidance held. The Future Package agreed in late July commits 2.1 billion euros to Zuffenhausen and Weissach and protects both sites until 2035, at the cost of 5,000 jobs over the same period. A billion euros arriving in September does not pay for that plan on its own, but it loosens the cash constraint while the company absorbs a sustained drop in volume. For readers who follow French, our earlier piece on Porsche and the economic downturn covers that background (French-language resource).
What the release leaves out
Nothing was said about industrial or product consequences for Bugatti. The April text mentioned a structure that lets Rimac move faster, without going further. Nothing either on whether technical cooperation between Porsche and Rimac Technology continues now that the shareholding has gone. One point is settled: future Bugatti models will be decided without Zuffenhausen in the room.
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