Rimac seeks full Bugatti Rimac control from Porsche

Rimac Group founder and chief executive Mate Rimac is negotiating to buy out Porsche’s 45% stake in Bugatti Rimac, just four years after the joint venture was established.

According to a Bloomberg interview reported by Automotive News, Rimac has secured investor backing capable of purchasing Porsche’s share for around €1 billion (NZ$1.95 billion). The deal would give Rimac complete operational control of the hypercar manufacturer.

The current ownership structure sees Porsche holding 45% of Bugatti Rimac, with Rimac Group controlling the remaining 55%. However, Porsche maintains a 22% stake in Rimac Group itself, alongside Mate Rimac’s 35% holding, Hyundai Motor Group’s 11%, and other investors holding 32%.

Rimac says his motivation centres on strategic and creative freedom.

“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,” he told Bloomberg.

The buyout attempt comes as Porsche faces significant operational challenges. Chief executive Oliver Blume warned staff earlier this year that the company’s business model “which has served us well for many decades, no longer works in its current form.”

The German manufacturer has struggled with declining electric vehicle demand, rising tariffs, and intensifying competition in the Chinese market, creating uncertainty around its long-term strategic direction.

Rimac indicated a deal could be finalised as early as next year, though he acknowledged the complexity of negotiations.

“There are so many factors,” he said, noting that the Porsche-Piëch family’s continued stake in Porsche makes “it’s an emotional topic.”

Since founding Rimac Automobili in 2009, Mate Rimac has established the Croatian company as a leader in high-performance electric vehicles. The company unveiled the Concept_One in 2011 and began production of the Rimac Nevera hypercar in 2022.

A successful takeover would mark a significant consolidation in the ultra-high-performance automotive sector, potentially allowing Rimac to pursue new strategic directions for both the Bugatti and Rimac brands without external oversight.

If completed, Porsche would retain influence through its existing stake in Rimac Group, though its direct involvement in Bugatti Rimac operations would end.