Porsche has sold its shares in Bugatti-Rimac and the Rimac Group to a consortium led by US-based investment firm HOF Capital for an undisclosed amount.
HOF Capital first invested in the Rimac Group in June 2022, after Porsche established the Bugatti-Rimac joint venture.
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Wow, this is big news.
Revived Bugatti wouldn't exist without Ferdinand Piech throwing the weight of the Volkswagen Group behind it. And now it will have to go it alone.
With the new car - with its new V16 and hybrid powertrain - in late stage development, you could say that the building blocks are now in place for the next decade, as Bugatti gears up to building the Tourbillion and its inevitable spin off models.
Beyond that, who knows? Does the extraordinary value placed on Rimac a few years ago still look justified? They will need to continue to find clients for their EV tech to help this company continue to thrive.