The 2018 Geneva Motor Show had a surprise for car enthusiasts in the shape of Hennessey Venom F5 hypercar. The F5 is a speed demon built to challenge some of the industry’s greats like the Koenigsegg Agera RS, Bugatti Chiron and Aston Martin Valkyrie with its 1,600 hp powerful engine.

The street-ready version is still in the works at the Hennessey headquarters. Understandably, there are a few changes expected in the finished product. Ushering the idea, Hennessey CEO John Hennessey said in an interview to Top Gear that the company is working on an 8.0-liter twin-turbocharged V8, which could be upgraded to have a quad turbo setting. However, the final decision will be made before the 2018 Pebble Beach Concours d’Elegance in August.

John intends on making the Hennessey Venom F5 capable of beating Koenigsegg’s Agera RS speed record but first he wants Bugatti to make an attempt. Just to be on the safe side, the F5 has been tuned to cross the 300-mph barrier.

Furthermore, the company is planning to run the vehicle on Nürburgring under 7:00 minutes to try coming close to Porsche’s 911 GT2 RS record. Hennessey will only make 24 Venom F5 units of which 12 have already been sold at a price of $1.6 million.