But the world looks quite different in 2026. Electrification might still be on for the masses in China and Europe, but the people who buy cars with price tags that look more like telephone numbers don’t want all-electric hypercars.
The good times aren’t rolling
Then there’s the parlous state of VW Group itself. Porsche is not having the best time of things after betting too heavily on EVs, which looks even worse in the vital US market thanks to Trump’s tariffs. Sales were down 15 percent in Q1 2026, the company reported earlier this month. At the VW Group level, CEO Oliver Blume (formerly Porsche’s CEO before his promotion) told Manager Magazin earlier this week that overall capacity across VW Group brands would be cut by a million of cars a year and that tens of thousands of job losses were forecast over the next few years.
So Porsche is selling its stake in Bugatti Rimac, as well as its stake in Rimac Group, to a consortium of investors led by HOF Capital.
“In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future,” said Porsche CEO Dr. Michael Leiters. “And as an early-stage investor of Rimac Group, Porsche made a significant contribution to developing Rimac Technology into an established Tier-1 automotive technology company. Now, with the sale of our stake, we demonstrate that we will focus Porsche on the core business. We would like to thank Mate Rimac and his team for the constructive and trusting cooperation over the past years.”
“Porsche has been a crucial partner, and we are deeply grateful for their role in establishing Bugatti Rimac,” said Mate Rimac, CEO of Bugatti Rimac. “With the strong foundations their support has provided, we now have a structure that allows us to execute even faster on our long-term vision. We look forward to our collaboration with our new partners.”