The British supercar maker might be ending its partnership with Mercedes and their co-developed SLR McLaren, but according to Autocar magazine, McLaren is already working on its own supercar that will rival the Ferrari F430 and the Lamborghini Gallardo. Codenamed P11, McLaren’s supercar will be powered by a 550Hp V8 engine that is said to be based on an existing Mercedes-Benz unit. -Continued

It is also said that the P11 will be more compact and lighter than the Italian competition. The P11 is expected to be introduced in late 2009 with sales beginning in early 2010. A year later the P11’s range will be enhanced by a drop-top version along with a more hardcore edition of the Coupe model.

Via: Autocar (Car pictured above: McLaren F1)