Porsche is selling its stake in the owner of supercar brand Bugatti as the German group scales back its ambition to produce high-end electric vehicles and wrestles with falling sales.
The sports-car maker will offload its 45 per cent holding in Bugatti Rimac — a joint venture with electric hypercar company Rimac — to a group led by US investment firm HOF Capital, the companies said on Friday.
The consortium will also acquire Porsche’s 20.6 per cent stake in Rimac, they added, without disclosing financial details of the transaction.
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