The head of Bugatti says the company has already designed an SUV, but adds “there is no budget and no decision” to build it quite yet.

Speaking to Automobile, Bugatti president Stephan Winkelmann confirmed the design was complete, despite in January stating emphatically “there will be no SUV from Bugatti”.

When asked about the firm’s progress on the rumoured three-door SUV, Winkelmann surprisingly confirmed the vehicle had already been designed.

“The design is done. Some potential customers have seen it, and they liked it. One or two influential people up in Wolfsburg [the headquarters of the Volkswagen Group] were complimentary about it. But at this point there is no budget and no decision,” he told the publication.

Winkelmann pointed out “crossovers are in strong demand”.

“So far, nobody is doing a high-performance, high-end luxury CUV. Because of the battery situation, it’s too early for an electric hypercar. Having said that, the more generously packaged CUV would almost certainly be battery powered.

“With the Galibier concept, Bugatti has in 2011 demonstrated that a super-luxury sedan is compatible with our portfolio. But time has moved on, and I’m sceptical that a sedan can generate enough volume in today’s commercial environment. After all, we’re not talking 100 cars a year here, but 600 to 800,” he added.