Porsche has agreed to sell its stake in Rimac Group and the joint venture Bugatti Rimac to a consortium led by HOF Capital, backed by the Sawiris family, marking the end of a multi-year partnership in the high-performance electric vehicle sector.
Porsche first invested in Rimac in 2018, acquiring a 10% stake that was later increased to 21%, and deepened the relationship in 2021 by contributing the Bugatti brand into a joint venture controlled by Rimac. Under that structure, Rimac held a 55% majority stake and operational leadership.
The decision to divest comes amid shifting strategic priorities. “In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future,” said Michael Leiters. “Now, with the sale of our stake, we demonstrate that we will focus Porsche on the core business,” he added, thanking Mate Rimac and his team for their cooperation.
The buyer consortium is led by New York-based HOF Capital and supported by the Egyptian Sawiris family, known for building the Orascom. Members of the family have expanded into global investments, including holdings in Adidas and co-ownership of Aston Villa. Onsi Sawiris Jr., a co-founder of HOF Capital, is part of the acquiring group.
Founded in 2009 by Mate Rimac, the company began as a small garage project converting a BMW 3 Series into an electric car. It has since grown into a diversified group spanning hypercars, automotive technology and energy solutions. Its flagship model, the Rimac Nevera, entered limited production in 2022 and is among the fastest electric vehicles, with a top speed of 412 km/h.
Today, Rimac operates across multiple divisions. The Bugatti Rimac unit focuses on hypercars, combining electric and combustion technologies. Rimac Technology supplies advanced components, including battery systems used in vehicles such as the BMW i7. Other divisions include Verne, which develops robotaxi services, and Rimac Energy, focused on stationary battery storage systems.
The transaction signals a shift in Porsche’s strategic direction, as the automaker concentrates on its core operations while maintaining a reduced role in Rimac’s future development.
