US EditionPorsche Has Sold Its Stake in Bugatti Rimac Ending VW's Involvement in the Brand
4 Articles
4 Articles
HOF Capital was founded by three Egyptians in 2016, a few years after arriving in the US: today they manage approximately $12 billion in assets.
Seeking to refocus its balance sheet due to its difficulties in negotiating the turn of electrification, the German automotive group separates itself from its stakes in the joint venture Bugatti Rimac and in Rimac Group.
In 2021, the operation had everything from an attractive idea on paper: to combine Rimac's expertise in electric supercars with Porsche's industrial weight to reinvent Bugatti. The French brand, in Volkswagen's lead since 1998, needed a course for its electric turn. Porsche, a shareholder of 45% of Bugatti Rimac's joint venture and 20.6 % of the Rimac group, brought credibility and resources. Five years later, this balance broke out.
Porsche has sold its stake in Bugatti Rimac ending VW's involvement in the brand
Volkswagen Group officially got involved with the legendary Bugatti brand in 1998, and ultimately helped birth the now iconic Veyron. It even reinvested through a joint venture with Porsche in 2021 together with the electric hypercar brand Rimac. But now, they are pulling back in a major way, through Top Gear. Porsche has officially sold its stake in Bugatti Rimac, and with it, Volkswagen Group's long-running involvement in the hypercar brand i…
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