Mercedes-AMG Project One release date, specs news: hypercar with 1,000-horsepower F1 engine to break cover at Frankfurt Motor Show 2017

To commemorate Mercedes-AMG's 50th anniversary, Daimler AG has announced the arrival of a new hypercar known internally as Project One. The German automaker also released a design sketch that previews the hypercar that will be the first to feature Formula One technology.

"The hypercar will be the missing link legitimising the integration of AMG with the Formula One team. It will be limited production, and ideally we want it to be sold out before the first one is delivered. It's the first street legal car with a Formula One engine, and will be perceived as the ultimate sports car," Dr. Dieter Zetsche, CEO of Daimler AG, told TopGear.com.

Project One will be a two-seat hypercar with a Formula One hybrid powertrain said to be a 1.6-liter turbocharged V6 — the same one that powers the Formula One race car driven by the likes of Nico Rosenberg and Lewis Hamilton. It is also said to feature a four-wheel drive system with an all-electric front axle. Power output will be a whopping 1,000 horsepower.

Of course, the Formula One engine will be tweaked for it to be safe and usable on the road. The Project One hypercar will be equipped with a different size battery, will have a lower compression ratio and revs will be downgraded to idle speed at 1,200 revolutions per minute (rpm). There will also be a bespoke gearbox.

Despite immense power under the hood, Zetsche assures consumers that the new AMG hypercar will be easy to drive and will most likely get an all-electric driving range of 15 miles. In term of design, however, the German executive is tight-lipped.

Based on the teaser image, the hypercar will have a roof-mounted central air intake with large vents and will designate a lot of space for cooling and radiators. It also has a wide stance and is equipped with a central fin to aerodynamic downforce.

Only 300 examples of the Mercedes-Benz Project One hypercar will be built and each model is expected to be priced at least $1.8 million.

The Mercedes-AMG Project One hypercar will make its global debut at the Frankfurt Motor Show, scheduled for Sept. 14 to 24.