Volkswagen Group officially got involved with the legendary Bugatti brand in 1998, and ultimately helped birth the now iconic Veyron. It even reinvested through a joint venture with Porsche in 2021 together with the electric hypercar brand Rimac. But now, they are pulling back in a major way, through Top Gear.
Porsche has officially sold its stake in Bugatti Rimac, and with it, Volkswagen Group's long-running involvement in the hypercar brand is effectively over. The deal sees Porsche offload both its 45% share in the Bugatti Rimac joint venture and its 20.6% stake in Rimac Group to a consortium of investors led by US-based HOF Capital, as per Top Gear.
Porsche's stake was the last remaining link between Bugatti and Volkswagen, meaning the end of an era. Now, effectively, Bugatti is led by Mate Rimac, and are backed by a range of financial partners, rather than an established automotive giant. This comes as Porsche is refocusing its business ventures, and pulling back from EV development all together in the midst of failing sales.