A new report is indicating the Bugatti 16C Galibier concept has green-lighted for production.

Nearly two years after the Bugatti 16C Galibier concept was unveiled, a new report is indicating the model has been green-lighted for production.

Although rumored previously, Bloomberg is citing two unidentified sources who say the Galibier will be launched in 2013 or 2014 with a base price of approximately 1 million euros ($1.42 million USD).

As you may recall, the Galibier concept is a five-door hatchback with sleek styling and a bespoke interior. It featured a supercharged 8.0-liter 16-cylinder engine which likely produced between 800 PS (588 kW / 789 hp) and 1,000 PS (735 kW / 986 hp). 

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