Bugatti Breaks Free from Porsche in RM4.85B Share Sale

Bugatti Rimac Ownership Restructure: Entity Definition and Background

Bugatti Rimac is a hypercar manufacturer established in 2021 as a joint venture between Porsche and Rimac Group, combining the heritage of the French Bugatti brand with Rimac's electric vehicle technology. The company produces limited-run hypercars including the Bugatti Tourbillon and manages the Rimac Group's automotive operations. For Malaysian audiences, Bugatti represents the pinnacle of automotive exclusivity, with no official Malaysian distributor currently listed, meaning local collectors typically import vehicles through specialised agents.

On 9 September 2026, Porsche completed the sale of its entire 45 percent stake in Bugatti Rimac and its 20.6 percent holding in Rimac Group to an international investor consortium led by HOF Capital, a United States-based investment firm, for approximately €1 billion (RM4.85 billion). This transaction fundamentally restructures the ownership of one of the world's most exclusive automotive brands, with Rimac Group retaining its 55 percent majority stake in Bugatti Rimac.

Key Facts

How Much Did Porsche Receive for Its Bugatti Rimac Stake?

Porsche received approximately €1 billion (RM4.85 billion) from the sale of its combined holdings in Bugatti Rimac and Rimac Group, according to the official Porsche statement dated 9 September 2026. Of this total, €250 million (RM1.21 billion) will be allocated to fund the company's pension obligations.

The transaction was signed in April 2026 and completed after receiving approval from relevant authorities. The sale price reflects the premium valuation placed on the Bugatti brand and Rimac's electric vehicle technology platform, which has been under development since the joint venture's formation in 2021.

Porsche's divestment from Bugatti Rimac generated €1 billion (RM4.85 billion), with €250 million (RM1.21 billion) earmarked for pension liabilities.

Who Is the HOF Capital Consortium That Bought Porsche's Stake?

The HOF Capital consortium is a group of international investors led by HOF Capital, a United States-based investment firm, with BlueFive Capital participating as the largest investor in the consortium. Additional institutional investors from the United States and Europe also joined the purchase, according to the Rimac Group statement.

Following the transaction completion, the consortium now holds the 45 percent stake in Bugatti Rimac that Porsche previously owned. Rimac Group continues to hold its 55 percent majority interest, maintaining control over the company's strategic direction. The consortium's involvement brings new financial backing to Bugatti Rimac's long-term development plans, including the Tourbillon model programme and the La Manufacture production facility in Molsheim.

"The participation of HOF Capital together with its consortium members will bring additional momentum to the company's growth at the next stage."

— Mate Rimac, Founder and President of Rimac Group, CEO of Bugatti Rimac

The HOF Capital consortium, including BlueFive Capital as its largest investor, now holds the 45 percent Bugatti Rimac stake previously owned by Porsche.

What Leadership Changes Occurred at Bugatti After the Sale?

Bugatti Rimac confirmed a leadership restructuring effective after the new shareholder structure was implemented. Christophe Piochon stepped down as President of Bugatti Automobiles and Chief Operating Officer of Bugatti Rimac, with Mate Rimac assuming the additional role of President of Bugatti Automobiles while continuing as CEO of Bugatti Rimac.

Marko Brkljačić, formerly Chief Operating Officer of Rimac Technology, is planned to join the Bugatti Rimac leadership team as Chief Operating Officer. Hendrik Malinowski, the current Managing Director of Bugatti Automobiles, will be appointed as the brand's Chief Commercial Officer. These changes position Mate Rimac with greater control over the strategic and operational vision he introduced after his 2021 appointment as CEO.

Mate Rimac now serves as both CEO of Bugatti Rimac and President of Bugatti Automobiles, consolidating leadership under his direction.

What Is the Bugatti Tourbillon and Its Production Status?

The Bugatti Tourbillon is the hypercar model currently in the final stages of testing, representing the next generation of Bugatti vehicles under Rimac Group's majority ownership. The model is central to Bugatti's 10-year vision introduced under Mate Rimac's leadership since 2021, alongside the new La Manufacture production facility in Molsheim which opened in July 2026.

The Tourbillon programme and the new production facility form the foundation of Bugatti's long-term planning as the brand transitions to its next era. The leadership changes and ownership restructuring occur as Bugatti prepares to begin production of the Tourbillon, with the new facility designed to support the brand's limited-volume manufacturing approach.

The Bugatti Tourbillon is in its final testing phase, with production planned at the new La Manufacture facility in Molsheim.

How Does This Ownership Change Affect Porsche's Financial Outlook?

Porsche's sale of its Bugatti Rimac and Rimac Group holdings has improved the company's projected Automotive Net Cash Flow Margin for the full year 2026. The forecast has been revised upward to between 5.5 and 7.5 percent, compared to the previous projection of 3 to 5 percent, according to the official Porsche statement.

The improved margin forecast reflects the cash inflow from the transaction, partially offset by the €250 million (RM1.21 billion) pension contribution. This financial restructuring allows Porsche to redirect capital toward its core automotive operations while exiting the hypercar joint venture less than five years after its establishment.

Porsche's 2026 Automotive Net Cash Flow Margin forecast increased to 5.5–7.5 percent following the Bugatti Rimac stake sale.

Who Is This Ownership Change Relevant To in Malaysia?

This ownership restructuring is relevant to Malaysian hypercar collectors, automotive investors, and enthusiasts who follow the global luxury vehicle market. While Bugatti has no official Malaysian distributor, the brand's vehicles are occasionally imported into the country through specialist dealers, with prices typically exceeding RM10 million for limited-run models.

For Malaysian automotive industry observers, the transaction signals continued consolidation in the hypercar segment and the growing influence of investment funds in luxury automotive brands. The Rimac Group's retention of majority control suggests stability for the Bugatti brand's future model plans, which may interest Malaysian collectors considering future imports of the Tourbillon or other upcoming models.

Malaysian hypercar collectors and investors should note that Bugatti Rimac retains its 55 percent majority ownership, ensuring continuity in the brand's strategic direction.

Common Questions

Did Porsche completely exit Bugatti and Rimac Group?

Yes, Porsche completed the sale of all its holdings in both Bugatti Rimac and Rimac Group on 9 September 2026. The transaction ended Porsche's involvement in both companies, with the HOF Capital consortium acquiring the 45 percent Bugatti Rimac stake and the 20.6 percent Rimac Group holding.

Who owns Bugatti Rimac after the share sale?

Rimac Group remains the majority shareholder of Bugatti Rimac with 55 percent ownership. The HOF Capital consortium holds the remaining 45 percent stake that Porsche previously owned. Mate Rimac continues as CEO of Bugatti Rimac and now also serves as President of Bugatti Automobiles.

What is the value of the Bugatti Rimac share sale in Ringgit Malaysia?

The transaction was valued at approximately €1 billion, which converts to RM4.85 billion at current exchange rates. From this amount, €250 million (RM1.21 billion) will be used by Porsche to fund pension obligations, with the remainder contributing to the company's improved cash flow margin forecast.

Sources and Methodology

This article is based on the original report by Qalif Latif published on Careta on 10 September 2026, titled "Bugatti Bebas Daripada Porsche Selepas Saham Dijual Pada Harga RM4.85 Bilion," which cited official statements from Porsche dated 9 September 2026 and a statement from Rimac Group. The original Malay-language source was translated to English, with all entity names, brand names, and proper nouns preserved. Currency conversions from euros to Ringgit Malaysia follow the rates provided in the source material. This article was last updated on 10 September 2026. Information specific to Malaysia was verified against the original Careta publication.