Porsche To Sell Its Bugatti Stake To Rimac

Furthermore, Abu Dhabi-based fund BlueFive Capital is also among the investors in the consortium. The amount of money involved in the deal was not disclosed. News agency Bloomberg reported in December that the deal could be valued at more than 1 billion euros.

Bugatti has operated as a joint venture since 2021, 45 percent of which was owned by Porsche and the remaining 55 percent by the Croatian sports car manufacturer Rimac. Porsche is also divesting its stake of over 20 percent in Rimac. Rimac is best known for its electric sports cars.

Bugatti was founded in Alsace in 1909 by Ettore Bugatti, an Italian immigrant. The brand disappeared in the 1950s but was revived by Volkswagen in 1998. It was the smallest brand of the German automotive group, with an annual production of around eighty cars.

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