It’s been a very long time in the making, but it looks like Melbourne-based JOSS Developments is nearing the production phase of its V8-powered supercar model, internally codenamed JP1. The company today announced that it will preview the future production version of the JP1 at the forthcoming Australian International Motor Show (AIMS), which takes place this year at the Melbourne Convention and Exhibition Center from July 1 to 10.

The Australian startup said it will showcase an evaluation prototype as well as a wind tunnel model of the production JP1 and select componentry from its technical partners. This will be the second time that JOSS Developments will be exhibiting the vehicle to the public after the appearance of an early prototype model in Melbourne in 2004.

“We had an amazing reception for our JT1 prototype in Melbourne several years ago, but building a car business is very involved,” said JOSS Developments Technical Director, Matt Thomas.

“So JOSS Developments has spent the last few years working on the business: building investment, working with our technical suppliers, and putting in place the right people so that when we launch JP1 the company will be geared up to deliver a great product to the market” Thomas added.

The test version of the JP1 is fitted with a mid-mounted 6.8-liter all-aluminum V8 cranking out 440-horsepower and 420 lb-ft of peak torque. The V8 is matched to a Porsche-sourced 5-speed manual gearbox. The company said the prototype tips the scales at just 940 kg (2,072 pounds) and can complete the 0-100 km/h (62mph) sprint in less than 3.0 seconds and the quarter-mile run in 11.9 seconds, en route to a top speed of 300 km/h (187 mph).

The production model will be motivated by a V8 engine of unknown displacement and origin pushing out more than 500 ponies, with power sent to the rear wheels through a 6-speed manual gearbox. Joss Developments claims that the carbon-fiber bodied JP1 will be capable of running the 0-100km/h sprint in under 3.0 seconds, the ¼ mile in less than 11.0 seconds while topping out at 340 km/h (211 mph).

The estimated price tag for the V8-powered supercar from Down Under is said to be over AU$500,000 (equal to US$530,000+ or €373,000+).

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