Porsche is selling its 45% stake in Bugatti Rimac, a joint venture with electric hypercar maker Rimac, to a consortium led by HOF Capital. The move signals a strategic pivot as the German automaker scales back its electric vehicle ambitions under CEO Michael Leiters. The deal also includes Porsche’s 20.6% stake in Rimac, though financial terms remain undisclosed. Porsche’s exit ends its partnership with Bugatti, which it owned since 1998, while HOF Capital gains control of the wider Rimac Group.

The €3.8mn Tourbillon hybrid, Bugatti Rimac’s first electrified model, underscores lingering ties between the brands despite the sale.