NextEV is a new Chinese automaker headed by the former boss of ‘Ford of Europe’, Martin Leach. The company is planning to introduce its first NextEV Electric Hypercar by the end of this year in Europe. It is expected to compete with the likes of McLaren P1 and LaFerrari.

The NextEV Electric Hypercar is currently under development at the automaker’s Munich design centre. However, the production model will be built at a new location in United Kingdom. It is presumed to deliver up to 1,000 horsepower, and will be capable of going from 0-60 mph in less than 3.0 seconds.

Talking to Autocar, Martin Leach stated that the company has plans to launch a full range of electric cars in the future. The NextEV Electric Hypercar is just to show the world what the automaker is capable of from a technology viewpoint.

The price is expected to be around 1 million pound.