McLaren has revealed the official name of their next Ultimate Series hypercar, which will be called Speedtail.

Previously codenamed BP23, it will use a hybrid powertrain, combining a petrol engine, probably an upgraded version of the 720S’ twin-turbo 4.0-liter V8, with at least one electric motor. The British car company says the new McLaren Speedtail will be able to exceed the peak speed of the legendary F1 of 391km/h (243mph).

It will also be the “fastest-ever” McLaren “in a straight line”, according to the automaker, and “the most luxurious” one.

Specs have yet to be released, but the Hyper-GT will eclipse not only the iconic F1, but the P1, too, which goes to 100km/h (62mph) in 2.8 seconds and has a top speed electronically capped at 350km/h (217mph). The experience will be enhanced by the central driving position, with the person controlling the car sitting in the middle and being flanked by two seats on each side.

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As for the “bad news”, the new Speedtail will only be offered in 106 examples, so even if you can afford to pay £1.6 million ($2.1 million) in the UK, without taxes, you still won’t be able to buy one straight from the factory, as all production slots are already reserved.

McLaren will start assembling the Speedtail at the end of 2019, and all units will be personalized to each owner’s taste by McLaren Special Operations (MSO). Thankfully, its public reveal is scheduled for “before the end of 2018”, according to the Woking-based firm, so we won’t actually have to wait that long in order to see the final product. Also, prior to its official presentation, the Speedtail will be previewed for its depositors during a private event.