British automotive magazine Car last year reported here that Volkswagen was on the verge of selling Bugatti to Rimac Automobili, citing sources.

In exchange, Porsche AG, also owned by Volkswagen, would raise the 15.5% stake it owns in Rimac Automobili, founded by Croatian entrepreneur Mate Rimac, Car said.

“At the moment there are intense deliberations on how Bugatti can be developed in the best possible way. Rimac could play a role here because the brands are a good technological fit,” Porsche AG CEO Oliver Blume said.

“There are various scenarios with different structures. I believe that the issue will be decided by the group in the first half of the year,” said Blume, who also sits on the management board of parent Volkswagen AG.

Rimac has developed an electric supercar platform, which he supplies to other carmakers, including Automobili Pininfarina.

Blume also confirmed higher savings targets for Porsche, saying the carmaker plans to support results by 10 billion euros ($12.1 billion) of cost cuts by 2025, up from 6 billion previously.