US EditionAs Electric Aspirations Fade, Porsche Sells Its Stake in Bugatti
- Porsche will sell its 45% stake in Bugatti Rimac to a consortium led by New York-based HOF Capital and BlueFive Capital, marking a complete exit from the joint venture.
- Established in 2021 with Croatian Rimac Group holding a 55% majority stake, the joint venture now faces Porsche's strategic refocus. CEO Michael Leiters said the sale allows Porsche to "focus on the core business."
- A preliminary offer had valued the joint venture at $1.1 billion, though current financial terms remain undisclosed. Porsche is also divesting its 20.6% stake in Rimac Group as part of the transaction.
- Following the deal's completion, Rimac Group will take full operational control of Bugatti Rimac and form a strategic partnership with BlueFive Capital and HOF Capital to support the brand's growth.
- As the automotive industry faces consolidation pressure from rising costs and geopolitical disruption, automotive deal value reached more than $35 billion by third quarter last year, according to Bain & Company.
92 Articles
92 Articles
Why Porsche Is Selling Off Its Stake in Bugatti Rimac
It’s a strange time to be a luxury automaker with ambitious EV plans. Earlier this year, Lamborghini revealed that it would not move forward with its previously announced electric vehicle, the Lanzador. Other European automakers are proceeding, with Ferrari on track to reveal its first EV next month. The latest wrinkle in the industry comes from Bugatti Rimac, which just announced that a significant stake in the company had changed hands. A quic…
The Beijing Salon was the stage to make its premiere in society, but a month ago we had the opportunity to meet it in Spain, in an exclusive event for a group of specialized journalists of the world. There, in a small studio delicately illuminated, but with strict security measures in the entry of journalists so that it did not leak before time, was the new silhouette of the last Porsche.The first thing that catches is the shape. The Cayenne Cou…
kreiszeitung.de
hna.deThe sports car manufacturer Porsche withdraws from the Bugatti Rimac joint venture and sells its investments to an investor consortium.
Coverage Details
Bias Distribution
- 55% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
