Electric supercar maker Rimac to go public in 2022

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.