The new world’s fastest car is here - again. At least that’s how the Bugatti Chiron is being touted, and it’s what Volkswagen, its parent company, hopes is true.

The exclusive supercar, named after a French racing pilot in the 1920s, is arguably the world’s most sought after sports car. Its makers place a lot of credence on being the fastest street legal production car. The new Chiron, which was just unveiled, includes a new carbon monocoque frame, which takes four weeks to make, and a newly designed adaptive chassis.

Only 500 Chirons Will Be Built

As the successor to the Bugatti Veyron, the Chiron will be priced at $2.8 million.

Its specs are incredible: 1,479 horsepower and 1,180 lb.-ft. of torque. It will accelerate from 0-62 miles per hour (100 kilometers) in less than 2.5 seconds. It has a seven-speed automatic transmission with paddle shifters and it will use its full tank of gas in 12 minutes of driving.

According to the Bugatti, the Chiron is faster than the Veyron for several reasons: The 8.0-liter engine was expanded with the addition of four larger two-stage turbochargers. Its estimated top speed will be 288 mph, although it will be equipped with a limiter reducing the top speed to 261 mph for street use.

Still, the Chiron’s odometer has a top speed listing of 310 mph.

At its debut at the recent Geneva Auto Show, Bugatti also provided further details about the Chiron’s exclusivity.

Only 500 of the new Bugatti will be built, with about one-third of the limited supply already pre-ordered. The remainder of the limited run will be available in August.

While introducing the new vehicle to the media, Bugatti CEO Wolfgang Duerheimer said in a statement: “The Chiron is the quintessential ultimate sports car.”

The Guinness World Records currently lists the Bugatti Veyron Super Sport as the world’s fastest street-legal production car at 267.7 mph.

The record is constantly being challenged by other supercar carmakers.

"This combination of speed, agility and design is not offered by any other market player and gives Bugatti its unique market position,” Duerheimer said.

Finally, Bugatti offers customers a near-limitless choice of colors with its “colorizer” option on the carmaker’s website.

The car can be customized in two sections. The doors, hood and front fenders can be one color. The roof, rear fenders, rear end, lower front bumper, and sills can be another color. And the epitome of coolness? Both sections can be detailed in exposed carbon fiber in red, blue and black.

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