Porsche Is Probably Going To Sell Its Stake In Bugatti
Mate Rimac, the Croatian entrepreneur behind Rimac Automobili and CEO of the Bugatti Rimac joint venture, has confirmed that he is in active talks to buy out Porsche’s stake in the program.
Key Points
- Mate Rimac confirmed he is negotiating to purchase Porsche’s 45% stake in Bugatti Rimac, aiming for a deal by 2026 that would give him full ownership of the joint venture behind Bugatti and Rimac hypercars.
- Rimac reportedly made a preliminary offer valuing the joint venture at just over €1 billion ($1.1 billion) and has secured backing from international investors and private equity funds to finance the buyout.
- Rimac said he wants the freedom to make long-term decisions without corporate oversight. Full control would allow him to align Bugatti Rimac’s future hypercar development with his vision for electrified performance and innovation.
In 2021, Porsche and Rimac formed the Bugatti Rimac joint venture, combining Bugatti’s hyper luxury performance with Rimac’s cutting-edge electric tech. The new play from Rimac would give him full control of two of the world’s most insane hypercar brands.
According to a report from Bloomberg, Rimac has already slid his preliminary offer across the table—it values the joint venture at just over $1.1 billion. Porsche currently holds a 45 percent stake in Bugatti Rimac, with the remaining shares belonging to Rimac Group, which was founded by the 37-year-old in 2009.
“It’s no secret that we are in discussions,” Rimac told Bloomberg in an interview from Singapore. “I just want to be able to make long-term decisions, to make long-term investments and to do things in a different way, without having to explain to 50 people.”
Rimac confirmed he has secured backing from an unnamed international investor group and several private equity funds to finance the buyout. While Porsche had previously tried to take a larger stake in the joint venture, Rimac now wants to take the reins entirely, believing full ownership will allow for better decision-making and longer-term strategic planning.
On the Porsche side of the table, the cash in hand would be a welcome boost as the automaker is looking to cull costs as it deals with flatlining interest in its electric vehicles, cratering Chinese consumer interest, and import tariffs into one of its most lucrative markets, the United States. It already cost Porsche the 963 World Endurance program.
Bugatti’s next-gen hypercars are expected to feature Rimac’s electrified powertrain technology, and having complete control could help Rimac accelerate development.
“When you negotiate with a corporation, there are so many factors — families, emotions, legacy,” Rimac said, referring to the Porsche-Piëch family’s influence over the German automaker.
Become an AutoGuide insider. Get the latest from the automotive world first by subscribing to our newsletter here.
An experienced automotive storyteller and accomplished photographer known for engaging and insightful content. Michael also brings a wealth of technical knowledge—he was part of the Ford GT program at Multimatic, oversaw a fleet of Audi TCR race cars, ziptied Lamborghini Super Trofeo cars back together, been over the wall during the Rolex 24, and worked in the intense world of IndyCar.
More by Michael Accardi
Comments
Join the conversation