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Has Mercedes-AMG declared open season on the Bugatti Chiron?

Mercedes-AMG wants a piece of the megacar market that’s currently dominated by the likes of Bugatti, Porsche, McLaren, and Ferrari. The company is secretly designing the fastest and most powerful model ever to wear an AMG nameplate, and rumors claim its debut is right around the corner.

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Called R50, the new model will share virtually no components with current members of the AMG lineup. For starters, it’s expected to tip the scale at less than 2,900 pounds thanks in part to a brand new carbon fiber monocoque. Mechanically, the R50 will eschew AMG’s ubiquitous 4.0-liter V8 and instead adopt a state-of-the-art gasoline-electric hybrid drivetrain made up of a pair of electric motors mounted over the front axle and a 2.0-liter turbo four located right behind the passenger compartment.

The electric motors will provide 150 horsepower each, and they’ll likely be capable of driving the front wheels by themselves for short distances, while the turbo four will be tuned to provide 1,000 horsepower. R50 drivers will have 1,300 horses at their disposal when all three power sources are running, which is plenty in such a light car. A trick four-wheel steering system and an adaptive suspension will help lower the coupe’s lap times.

Visually, the R50 will boast the aggressive look that you’d expect from a 1,300-horsepower halo car. The print edition of German magazine Autobild reports it will borrow a handful of styling cues from the CLK GTR, an equally-absurd coupe built in the late-1990s, and wear a massive carbon fiber wing on the trunk lid. Inside, it will feature a narrow, race-inspired cockpit with room for up to two passengers.

Rumors claim the R50’s official debut is scheduled to take place next year, and its introduction will coincide with AMG’s 50th birthday. It will arrive as an exclusive limited-edition model with a price tag that’s expected to lie between 2 and 3 million euros, sums that convert to $2.2 and $3.3 million, respectively. Mercedes hasn’t commented on the report, so only time will tell whether the R50 is too good to be true.