Volkswagen has approved production of the Bugatti EB 16.4 Veyron.
A production version will debut at the Frankfurt auto show in September 2003, nearly four years after a concept was shown at the Tokyo auto show.
VW said the W16 8.0-liter, four-turbo engine will set two production-car world records: 1,001hp and 1,250Nm of torque.
'When these forces are transmitted to the tarmac by the permanent four-wheel drive, you get a thrust of a kind you can only compare - no exaggeration - with the take-off phase of a jet,' said Karl-Heinz Neumann, the new chairman of Bugatti Automobiles SAS.
'But do not worry,' Neumann added. 'The Veyron won't take off. The sophisticated aerodynamics of the body produce downward forces of the kind found with in motor racing.'
Suppliers involved in the project said VW plans to make 100 units a year of the EB 16.4. Prices will start at e750,000 plus taxes for the basic version.
The revival of Bugatti has been a long time coming. Volkswagen bought the Bugatti trademark in June 1998 for a reported e15 million. It established Bugatti Automobiles SAS in December, 2000.
Like the original Bugatti company renowned in the 1920s and 1930s, the new firm is based in a restored Chateau St. Jean in Molsheim, France.
Italian entrepreneur Romano Artioli was the first to attempt a Bugatti relaunch. His Bugatti Automobili SpA was established in Campogalliano, Italy, in October 1987. It went bankrupt in 1995 after building an undisclosed number of EB 100 models.