HOF Capital’s consortium has completed a €1 billion purchase of Porsche’s stakes in Bugatti Rimac, taking over the German automaker’s share in the joint venture while Rimac Group retains its 55% controlling interest.
Deal structure and parties
The transaction, announced on 9 September 2026, swaps Porsche’s equity for cash paid to the German brand. According to the announcement on PE Hub, the deal value is €1 billion. The buyer is a consortium organized by HOF Capital, a private‑equity firm that has been building a portfolio of high‑technology assets across Europe. The seller, Porsche AG, exits its position in both Bugatti Rimac and the broader Rimac Group, ending a partnership that began in 2021.
Rimac Group, the Croatian electric‑performance car maker, continues to hold 55% of the equity in Bugatti Rimac. That majority stake gives the company decisive voting rights and operational control over the joint venture’s product roadmap, manufacturing footprint and technology development.
| Item | Value | Unit | Period |
|---|---|---|---|
| Deal value | 1 | bn € | 2026 |
| Rimac Group controlling stake | 55 | % | 2026 |
| Source: Commission brief and PE Hub announcement | |||
Strategic rationale for HOF Capital
HOF Capital’s entry signals a bet on the premium electric‑vehicle segment, where performance, brand cachet and technology integration command premium margins. The consortium inherits a platform that already blends Bugatti’s heritage of ultra‑high‑performance engineering with Rimac’s electric‑drivetrain expertise. By holding the majority stake, HOF Capital can steer future product development, pursue synergies with other portfolio companies, and potentially prepare the business for a later public listing or strategic sale.
Industry observers note that private‑equity firms have been attracted to EV‑related assets because of the sector’s rapid growth and the scarcity of mature, cash‑generating businesses. The €1 billion price tag reflects both the high‑tech IP embedded in Rimac’s battery‑management systems and the brand equity of Bugatti, which remains a global symbol of automotive exclusivity.
Implications for the hypercar market
Bugatti Rimac’s flagship model, the Nevera, already demonstrates that electric powertrains can rival internal‑combustion engines in outright speed. With HOF Capital now in control of the majority share, the joint venture is expected to accelerate its development pipeline, potentially expanding the product line beyond a single hypercar to a broader family of high‑performance electric models.
The retained 55% stake ensures that Rimac Group’s engineering culture and Croatian manufacturing base stay intact. This continuity is crucial for preserving the supply‑chain relationships that have enabled the company to source advanced carbon‑fiber components and bespoke battery packs at scale.
Broader market context
While the specific figures for comparable transactions are not publicly disclosed, the move fits a pattern of private‑equity interest in niche EV manufacturers. Over the past few years, several funds have taken stakes in battery‑technology start‑ups, electric‑motor specialists and low‑volume performance car makers. The common thread is a desire to capture upside from a market that is still in the early stages of mass adoption but already commands high margins for premium products.
For Porsche, the sale frees up capital that can be redeployed into its core electrification programmes, including the expansion of the Taycan line and the development of the next‑generation Mission E platform. The cash inflow also supports the German automaker’s broader strategic goal of achieving a net‑zero emissions target by 2035.
Open questions and next milestones
Several uncertainties remain. First, the exact governance structure of the post‑transaction Bugatti Rimac board has not been disclosed, leaving analysts to speculate on how much influence HOF Capital will exert over day‑to‑day operations. Second, the timeline for any new model launches is unclear; while Rimac Group has hinted at a second‑generation hypercar, no concrete schedule has been announced.
Finally, regulatory approval in the European Union is required for the change of control, but the commission has not reported any objections. Assuming clearance is granted, the next observable milestone will be the filing of a detailed shareholder agreement, which could shed light on any earn‑out provisions or performance‑based clauses tied to future sales volumes.
Investors and industry watchers will be looking for a formal press release from HOF Capital or Rimac Group that confirms the transaction details and outlines the strategic roadmap. Until such a document appears, the €1 billion figure and the retained 55% stake remain the only verified elements of the deal.