Porsche has confirmed it will reduce its stake in Bugatti Rimac, marking a significant change in the relationship between Volkswagen Group and Bugatti. Porsche has confirmed it will sell its entire stake in Bugatti Rimac, marking a complete exit from the joint venture and, with it, a full divestiture of its indirect ownership in Bugatti. In other words, Doing the math, it appears Bugatti will officially no longer be part of the Volkswagen Group.
Bugatti Rimac was originally formed in 2021 as a joint venture between Porsche AG and Rimac Group, combining Bugatti’s legacy of combustion-engine hypercars with Rimac’s expertise in electrification. Porsche held a minority stake in the venture, while Rimac Group maintained majority control.
Following the transaction, Porsche will remain involved but with a reduced shareholding, while the new investor group enters the structure. The deal is subject to regulatory approvals.
THE VOLKSWAGEN ERA AT BUGATTI
Bugatti’s modern era began under Ferdinand Karl Piëch, who brought the brand into the Volkswagen Group in 1998. The move followed Volkswagen’s high-profile pursuit of Bentley and Rolls-Royce, which ultimately resulted in Bentley joining Volkswagen while Rolls-Royce went to BMW Group.
Piëch’s response was to secure Bugatti and invest heavily in its revival. That effort culminated in the Bugatti Veyron, a program that reestablished the marque in Molsheim and returned it to the forefront of engineering and performance.
The revival marked a clear break from the brand’s prior dormant period following the Romano Artioli-era Bugatti EB110, plus a much longer dormancy prior to that.
THE 2021 SHIFT PORSCHE & BUGATTI RIMAC
In 2021, Bugatti was moved out of direct Volkswagen Group ownership and into the Bugatti Rimac joint venture via Porsche. Under that structure, Rimac Group held a controlling stake while Porsche retained a significant minority position, effectively maintaining Volkswagen Group exposure to Bugatti through Porsche’s equity.
Though many details remain confidential until the deal is completed later this year, the latest transaction appears to unwind that remaining link between Volkswagen Group and Bugatti.
By exiting both Bugatti Rimac and Rimac Group entirely, Porsche will no longer be connected—directly or indirectly—to Bugatti’s ownership or future direction.
PORTFOLIO BUILT NOW RESHAPED
For decades, Bugatti sat alongside brands such as Lamborghini, Bentley, and Ducati within a portfolio largely assembled during Piëch’s tenure.
That collection reflected a strategy of pairing technical ambition with brand prestige across virtually every segment – from the most affordable Skoda to the most opulent Bugatti.
The full exit from Bugatti marks a notable shift from that approach. While all the other brands from that era still remain under Volkswagen Group control, Bugatti now moves fully outside of that orbit in ownership terms.
CONTEXT & WHAT IT MEANS FOR BUGATTI
The decision comes as Volkswagen Group and Porsche continue to manage capital allocation amid a complex industry environment. The transition toward electrification, uneven global EV demand, trade pressures including U.S. tariffs, and the longer-term effects of the diesel emissions crisis all factor into strategic priorities.
Within that context, divesting from Bugatti—now positioned within a separate joint venture structure—represents a move to streamline holdings and refocus resources. Bugatti remains part of Bugatti Rimac, with Rimac Group continuing to lead the joint venture alongside new financial partners.
What changes is ownership lineage. For the first time since the late 1990s, Bugatti is no longer tied to the Volkswagen Group in any equity capacity—a notable break from the era defined by Piëch’s acquisition and the engineering statement that followed.