Volkswagen has announced it will continue to move forward with its plans to fund the production of a Bugatti 16C Galibier model, reports AutoWeek.com.
Bloomberg News reported that Volkswagen insiders were their sources of the news, but the actual automaker had not confirmed the speculations as of April 7, 2011.
The model wouldn't be built for at least another two years, but anticipation for its release will like grow exponentially as the release date draws nearer.
AutoWeek reports that the "ultraluxury sedan" debuted at the 2010 Geneva Motor Show. "It shares the 16-cylinder, 1,000-hp engine used in the Veyron," states the news source. "Speculation on a price tag centers on 1 million euros, or about $1.4 million at current exchange rates."
Veyrons are built by the Bugatti brand, conceived in 2005. There are only 50 cars made per year and they will reportedly never build) more than 300 models.
According to Bloomberg, Wolfgang Duerheimer, the chief of Bugatti and Bentley autos, made the new model his top priority as soon as he moved from Porsche in February.