Croatia's hyper car producer Rimac Automobili will go public in 2022, the Manager Magazin reported on Wednesday as carried by the Reuters agency, while the company told the Croatian state news agency Hina that a decision has still not been made as to which direction it will go.

Citing sources, the magazine said that the company is aiming for a valuation of about €5 billion.

Together with Porsche, who invested €70 million in Rimac Automobili in March, increasing its share in the company to 24%, Rimac will soon also take over Bugatti. Rimac will hold 55% and Porsche 45% of the shares in Bugatti, according to Manager Magazin.

Rimac Automobil, however, told Hina that they are working on a strategic partnership with Bugatti and that they did not wish to make any further comment for the time being.

Asked about an initial public offering, Rimac Automobili said they were investigating various possibilities but that no decision has been made yet.