Porsche is tipped to decide within the next two weeks whether or not to enter formula one.
The Volkswagen brand is currently a frontrunner at Le Mans, but Auto Motor und Sport says the Porsche board is set to "decide the motor sport strategy for coming years" later in July.
"There are several options," said correspondent Michael Schmidt.
"Carrying on in the world endurance championship, a commitment to Formula E or entering formula one as an engine manufacturer.
"A combination is also conceivable."
Porsche has been involved in recent talks with F1 about the future shape of the post-2020 engine regulations.