Volkswagen says goodbye to Bugatti: Porsche sells its stake in the brand, which now falls under Rimac’s control

Five years after the creation of the joint venture Bugatti Rimac, Porsche has sold its 45% stake in the partnership. Additionally, the Stuttgart-based company has also disposed of its 21% share in Rimac Group. All indications suggest this is part of Volkswagen Group’s efforts to cut costs and streamline its portfolio of investments.

With this move, Volkswagen completely and definitively breaks ties with Bugatti, which for nearly three decades had been the pinnacle of its extensive brand portfolio. Porsche’s shares were acquired by a consortium led by HOF Capital, with BlueFive Capital as its main investor, along with other investors from Europe and North America.

Rimac will retain its 55% stake in Bugatti Rimac, whose board of directors has been restructured. Christophe Piochon will no longer serve as President of Bugatti Automobiles and Director of Operations for Bugatti Rimac. Mate Rimac will become the new President of Bugatti Automobiles, while Marko Brkljačić, former Director of Operations at Rimac Technology, will take on the role of Director of Operations for Bugatti Rimac. Hendrik Malinowski, the current General Manager of Bugatti Automobiles, will be appointed as the brand’s Commercial Director.

"This is an important step for Bugatti Rimac and the entire Rimac Group. I am pleased that HOF Capital and its consortium will become our partners in the next phase of our Group’s development, and I look forward to working together to realize the full potential of our companies. We have made solid progress in all of the Group’s companies, and I believe this partnership will further drive our continued growth," says Mate Rimac.

The Bugatti Tourbillon approaches the final stage of its development

"With over two decades at Bugatti, Christophe has significantly influenced the brand as we know it today. From the Veyron to the Tourbillon, he has helped build and preserve the quality and craftsmanship that define all the hypercars produced in Molsheim. On behalf of the entire Bugatti Rimac team, I would like to thank Christophe and wish him great success. I also take this opportunity to welcome Marko."

Last July, Bugatti opened a new factory in Molsheim, France. The company has also confirmed that it is finalizing the development of the Tourbillon, a plug-in hybrid hypercar designed to replace the Chiron. Meanwhile, Rimac is already working on new technologies for this historic French manufacturer, including advanced solid-state batteries.

The work is being carried out in collaboration with cell manufacturer ProLogium and Mitsubishi’s experts in composite materials. It will hit the market in 2030. Operations director Nurdin Pitarevic has set a goal of using it in a new Bugatti model as its first commercial application.

Source | Rimac