Koenigsegg is preparing to unveil a new ‘entry-level’ model and, according to a Twitter user, it will be powered by a hybrid powertrain.

AutoPap, who claims to be an automotive investor with early access to vehicles like this, published a tweet on February 14 stating that he was recently shown the car.

According to him, it has a 2.9-liter V8 hybrid powertrain with 1050 HP, carbon fiber wheels, and a body clad in aluminum and carbon fiber. Quizzed by his followers about what exactly he saw, AutoPap simply responded “son of Koenigsegg,” a reference to Aston Martin’s forthcoming ‘son of Valkyrie’.

This news comes shortly after China’s NEVS purchased a 20 per cent stake in Koenigsegg and established a joint venture with the Swedish automaker. The deal will see NEVS provide Koenigsegg with a capital injection of $170 million in exchange for 20 per cent in the company. It is thought that NEVS could lend Koenigsegg its expertise with battery technology and it’s entirely possible the forthcoming Koenigsegg supercar will use NEVS components.

Company founder and CEO Christian von Koenigsegg recently confirmed the existence of a new supercar to slot below its traditional offerings. The car will use the automaker’s cutting-edge ‘freevalve’ camless combustion engine that allows for the car to be started on pure alcohol to make the engine completely CO2 neutral.

Koenigsegg is expected to unveil the vehicle next year and pricing it at roughly 1 million euros ($1.14 million) will allow it to build hundreds of units, rather than the limited number of Regera models it is currently building.

This isn’t the only new model that’s currently in the works. The automaker confirmed quite a while back that it is developing a track-focused successor to the Agera which will sell alongside the hybrid, transmission-less Regera.