"Porsche is selling off its stake in Bugatti Rimac, with a group of investors led by HOF Capital set to take over partial ownership of the firm."
"According to Bugatti's announcement, Porsche has technically sold two stakes: the 45% of Bugatti Rimac it previously held, along with 20.6% of Rimac Group."
"Porsche CEO Michael Leiters said in a statement that this sale indicated that 'we will focus Porsche on the core business.'"
"HOF Capital is not a newcomer to this business; they first invested in Rimac Group in 2022."
Lamborghini has halted its electric vehicle plans, while Ferrari prepares to unveil its first EV. Bugatti Rimac is undergoing a significant ownership change as Porsche sells its stake to a group led by HOF Capital. This sale includes 45% of Bugatti Rimac and 20.6% of Rimac Group. HOF Capital, which has previously invested in Rimac, is now part of a strategic partnership with Rimac Group. The focus for Porsche will shift back to its core business following this transaction.
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