Hennessey Performance has revealed that it has started construction of the first carbon fiber chassis that will be used in its Venom F5 hypercar.

The Texas company first unveiled the Venom F5 towards the end of 2017 and has already shown off the car throughout the United States and in Europe. However, it has yet to build a production-spec prototype but is in the process of doing just that, John Hennessey announced during a recent company podcast.

Also Read: Can The Hennessey Venom F5 Actually Hit 300 MPH? Math Says Yes

Whereas the original Hennessey Venom GT was based around a Lotus, the F5 will be a bespoke design. Not only will it feature a lightweight and strong carbon fiber chassis, but it will be powered by a twin-turbocharged 7.6-liter V8 with more than 1600 hp and 1300 lb-ft (1760 Nm) of torque. Chief executive John Hennessey has previously confirmed that the engine of the Venom F5 has been tested at over 2000 hp!

With these extraordinary horsepower and torque figures, Hennessey understandably has set some bold performance goals. In fact, it has made no secret of the fact that it wants to break the 300 mph (482 km/h) barrier with it and may even push the vehicle to 310 mph (500 km/h). What’s more, Hennessey claims its new creation will reach 186 mph (300 km/h) in less than 10 seconds…

So, Bugatti might be saying it’s not interested in setting new speed records but, apart from Hennessey, a number of other manufacturers, such as Koenigsegg with the Jesko and SSC with the Tuatara, have engaged in a race to break the 300-mph barrier.