The boys from Woking have officially confirmed that their new Hyper-GT, codenamed BP23, will be the fastest ever McLaren model in history, being capable of hitting more than 243 mph (391 km/h).

The automaker’s CEO, Mike Flewitt already announced that the Hyper-GT will be unveiled sometime this year, with all 106 units already sold out at £1.6 million a piece, plus taxes. The new hypercar will feature a three-seat cockpit design, and a petrol-electric hybrid powertrain.

Production isn’t scheduled to begin until the end of 2019, so both its future owners as well as the automotive community still have a lot of waiting left to do. On the plus side, each model will be personalized to each owner’s taste by McLaren’s MSO division, which usually handles all bespoke customer commissions.

As for its name, the BP23 moniker will eventually give way to something else, something non-alphanumerical – which would be a departure from all current McLaren Sports Series and Super Series models.

We also know to expect powered doors that extend deep into the roof, carbon fiber bodywork, as well as more power than the 903 horses inside the P1 hypercar.

The BP23’s final name, as well as its official top speed, will be unveiled “nearer to the car’s reveal,” states the automaker. This means we’ll know what it’s called and how fast it is before the end of the year.