Porsche's Croatian partner Rimac will go public in 2022 and soon take over the luxury carmaker Bugatti, Manager Magazin reported on Wednesday.
The company is aiming for a valuation of around €5bn (roughly R84.6bn), the magazine reported, citing sources close to the matter.
Together with Porsche, Rimac will soon also take over Bugatti, which will be brought into a joint venture with Rimac holding 55% and Porsche 45% of the shares, Manager Magazin reported.
No-one at Volkswagen or at Porsche was immediately available to comment on the report.
