On the Dash:

• Porsche sells minority stakes of joint venture Bugatti Rimac, refocusing on its core business under new CEO Michael Leiters.
• Consortium led by NY investment firm HOF Capital will acquire the stakes in Bugatti Rimac
• The deal is part of Porsche CEO Michael Leiters’ plan to move away from all-electric vehicles and focus on gas and hybrid models.

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Porsche is selling its stakes in hypercar maker Bugatti Rimac and electric-vehicle technology company Rimac Group to a consortium led by HOF Capital, a New York-based investment firm. The German automaker says the agreements were signed on Friday. The deal is expected to be completed later this year, pending regulatory approval.

The move is part of Porsche CEO Michael Leiters‘ sweeping turnaround plan. Leiters, a former McLaren executive, took the helm at Porsche at the start of 2026. He’s pushing a broad strategic realignment that includes investing in new gas-powered and hybrid models while pulling back on the rollout of all-electric vehicles.

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“With the sale of our stake, we demonstrate that we will focus Porsche on the core business,” Leiters said in the company’s press release. 

HOF Capital is leading the acquisition, alongside Abu Dhabi-based BlueFive Capital, the consortium’s largest investor. The consortium also includes a group of institutional investors across the US and the EU. Following the deal’s close, HOF Capital will become Rimac Group’s largest shareholder alongside Mate Rimac, the company’s founder.

Co-Founder and Managing Partner of HOF Capital, Hisham Elhaddad, said “We are proud to partner with Mate Rimac and his team to help shape the next chapter, balancing disciplined growth with a tradition of craftsmanship and originality that remains unmatched.” 

For Porsche dealers in the U.S., the move signals that the company is refocusing on the sports cars, SUVs, and hybrids that built its reputation. Dealers could soon see a leaner, more focused lineup at a time when EV demand remains uncertain.