Gemballa is best known for tuning Porsches, but the company is moving forward with plans to build a hypercar.

Details are limited, but the project is in the entry stages as the firm said it had successfully started the fundraising process and is receiving payments from investors.

Thanks to this development, the company is moving to the “technical planning phase” and is releasing more details about the upcoming model. A prototype is slated to be unveiled early next year and the company says it will have “state-of-the-art drive and aero technology.”

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That’s not much to go on, but Gemballa says they’re targeting a 0-62 mph (0-100 km/h) time of less than 2.5 seconds. The company also said the car should be able to hit 124 mph (200 km/h) in approximately 6.5 seconds.

There’s no word on what will power the model, but company said the initial version will have a combustion engine. Later on, we can expect a hybrid variant that will presumably offer even better performance. Gemballa also said a manual transmission could be optional.

The car also promises to be extremely lightweight. However, there’s no indication on how much the model will weigh or how extensive the use of carbon fiber will be.

Besides some vague specs, Gemballa released a couple of new teaser images. They suggest the hypercar will have an aggressive front fascia, bulging fenders and slender LED lighting units. We can also see prominent scoops, a front splitter and exposed carbon fiber. The model also has massive wheels and a distinctive rear spoiler.

In a statement, Gemballa CEO Steffen Korbach said “We’re now concentrating on building one of the last pure sports cars, a modern classic with an outstanding appearance and performance.” He went on to say “A pure Gemballa car needs petrol and sound” as “not all new trends are cool.”