Bugatti’s modern history has been closely tied to the Volkswagen Group for nearly three decades. That connection has now officially come to an end.
Porsche confirmed on September 9 that it has completed the sale of its stakes in Bugatti Rimac and Rimac Group following regulatory approval. The transaction brings Porsche approximately €1 billion and removes the Volkswagen Group’s remaining ownership link to Bugatti.
Rimac separately confirmed that a consortium led by HOF Capital has acquired Porsche’s holdings. Rimac Group remains the majority shareholder in Bugatti Rimac with a 55 percent stake.
For Bugatti, the deal closes one of the most important chapters in its modern history. The French marque that Volkswagen revived in the late 1990s is now heading into the Tourbillon era with Mate Rimac firmly in charge.
Volkswagen Brought Bugatti Back From The Dead
Volkswagen acquired the rights to Bugatti in 1998 under Ferdinand Piëch, who had unusually ambitious plans for the dormant brand. Those ambitions ultimately produced the Veyron, a 1,000-horsepower engineering statement that redefined what a road-going performance car could be.
The Veyron was followed by the Chiron and a string of increasingly extreme derivatives, cementing Bugatti’s place at the very top of the performance-car world. Volkswagen’s willingness to fund extraordinary engineering played a central role in creating the Bugatti we know today.
Porsche’s Bugatti Connection Is Now Gone
The ownership structure changed dramatically in 2021 when Porsche and Rimac Group established Bugatti Rimac. Rimac held 55 percent of the joint venture, while Porsche owned the remaining 45 percent and also maintained a separate stake in Rimac Group.
Those holdings have now been purchased by a HOF Capital-led consortium that includes BlueFive Capital and other institutional investors from the U.S. and Europe. With Porsche out, Volkswagen Group no longer holds an equity stake in Bugatti.
Porsche says the sale is part of a broader effort to focus on its core business. Of the roughly €1 billion in proceeds, €250 million will be used to further fund pension obligations.
Mate Rimac Takes An Even Bigger Role
The ownership change is also bringing changes to Bugatti’s leadership. Mate Rimac, already CEO of Bugatti Rimac, will additionally become president of Bugatti Automobiles.
Longtime Bugatti executive Christophe Piochon is stepping down as president of Bugatti Automobiles and chief operating officer of Bugatti Rimac. Marko Brkljačić is planned to join the leadership team as COO, while Hendrik Malinowski is expected to become Bugatti’s chief commercial officer.
The Tourbillon Era Begins Without Volkswagen
Bugatti enters its post-Volkswagen chapter at a particularly important moment. Its new La Manufacture production facility opened in Molsheim in July, while the V16-powered Tourbillon is approaching the final stages of testing.
That makes the timing unusually symbolic. Volkswagen helped resurrect Bugatti and create the Veyron, Porsche helped bridge the marque into the Rimac era, and now Bugatti is continuing without either as an owner.
Nearly 30 years after Volkswagen brought the famous name back, Bugatti is once again entering unfamiliar territory. This time, Mate Rimac and a new group of investors will be responsible for deciding what comes next.