When we last spotted the Mercedes-AMG One, the hybrid hypercar kindly let our spy photographers get nice and close by breaking down outside the Nurburgring.

We were able to sneak a look at the interior with its swatches of carbon fibre and square steering wheel, and take a look at the hydraulic actuators controlling the elevated rear wing. But the car was still decked out in a full complement of camo wrap.

A $2.72 million hypercar

This week, we’ve snapped it again. But with only a month or two to go before the official unveil, Mercedes-AMG has started to peel off the disguise, giving us a better idea of what buyers of the $2.72 million machine can expect.

Wearing only the motorsport-inspired wrap seen in a video teaser that starred the AMG One alongside F1 champ Lewis Hamilton, this particular One development car gives us our first look at the front DRLs, and sports the finished taillights instead of the dummies seen on earlier hacks.

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Check out that wing

It also gives us a chance to see the rear wing in its low-speed mode, fully retracted into the bodywork. But even with the wing lowered this is still a crazy looking machine thanks to the roof scoop and dorsal fin that makes it look like the driver has been big game fishing and strapped his catch to the top of the hypercar for the journey home.

Nestled under the louvred rear bodywork is a turbocharged 1.6-liter V6 engine supplemented by four electric motors. Producing 986 hp – and possibly as much as 1200, according to some rumors – it’s directly related to the powertrain in AMG’s F1 cars, and represents a radically different approach to the one taken by the Aston Martin Valkyrie and Gordon Murray Design’s T50. Both British cars are powered by naturally aspirated V12 engines.

Only 275 cars will be made

The first customers deliveries of the AMG One are scheduled to begin later this year, and even at nearly $3m before the inevitable personalisation upgrades many customers will request, AMG had no trouble selling the entire 275-unit production run.

Photo credits: CarPix for CarScoops