Report: Bugatti pushing VW Group to approve electric four-seater

The EV would be priced between $550,000 and $1.1 million.

Bugatti is reportedly pushing parent Volkswagen Group to approve development funds for an all-electric four-seater that would serve as a new entry level model for the luxury marque.

The company apparently wants to be prepared to take advantage of the shift toward electric vehicles, providing an opportunity for a new model that would have higher sales volumes in mind. Pricing would be somewhere between $550,000 and $1.1 million, which is still near the top of the market but significantly below the Chiron's $2.7 million price tag.

"The industry is changing fundamentally, and we have to address what opportunities there are to develop Bugatti as a brand going forward," CEO Stephan Winkelmann told Bloomberg in a recent interview.

Previous rumors suggest Bugatti has been exploring a supply agreement with Croatian electric supercar maker Rimac. The latter company's C002 integrates four electric motors with a total output of 1,850 horsepower, seemingly a good fit for the French brand if purchased as a rolling chassis. Such an arrangement may help Bugatti reduce development costs.

If the project is approved, Bugatti aims to increase overall production by six-fold from just 100 units per year to 600 vehicles annually. The company is also rumored to be considering a high-riding model based on the Lamborghini Urus.

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