Porsche Divests Stake in Bugatti as Electric Future Beckons
As electric aspirations fade, Porsche sells its stake in Bugatti
Ars Technica
Image: Ars Technica
Porsche is selling its stake in Bugatti to a consortium of investors, marking a significant shift for the luxury car brand. This decision comes after Volkswagen Group, which revived Bugatti in 1998, formed a joint venture with Rimac Group in 2021 to focus on electric vehicle technology.
- 01Porsche is divesting its stake in Bugatti to a consortium of investors.
- 02Volkswagen Group revived Bugatti in 1998 after its original closure in 1963.
- 03The Bugatti brand has a storied history dating back to 1909.
- 04Porsche held a 45% stake in Bugatti Rimac, a joint venture focused on electric powertrains.
- 05The shift reflects the auto industry's rapid move towards electrification.
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Porsche is selling its stake in Bugatti, a luxury car brand with roots dating back to 1909, to a consortium of investors. This marks a pivotal moment for Bugatti, which was revived by the Volkswagen Group in 1998 after being defunct since 1963. The brand gained fame with the introduction of the Bugatti Veyron, a mid-engined supercar boasting 1,000 metric horsepower. In 2021, Volkswagen Group formed a joint venture with Rimac Group, focusing on high-performance electric powertrains, which led to Porsche holding a 45% stake in Bugatti Rimac. This divestment indicates a broader trend in the automotive industry as it transitions towards electrification, leaving behind traditional internal combustion engines.
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