Jaguar's former design director, Ian Callum, said his company will partner with a Hungarian entrepreneur to design a hybrid supercar.
The limited-edition model will be called the Kincsem and is named after a famous Hungarian racehorse. Just 54 of the so-called "hyper-GT" cars will be built, with the first planned to be delivered in 2023.
The project is the brainchild of Swiss-based Hungarian entrepreneur Tibor Bak. The 35-year-old set up Bak Motor in 2018 with the purpose of designing and building the Kincsem supercar in the UK.
"With Kincsem we have the rare privilege of not only designing a beautiful car, but also shaping a design language for an innovative luxury brand," Callum said.
The project will help to create a luxury electrified-vehicle brand that will also offer an SUV using the same powertrain, Bak Motors said.
The Kincsem will use a series hybrid powertrain in which a "high-revving" motor feeds a battery pack to power multiple electric motors. The combination will meet the "sometimes conflicting" needs of supercar owners, Bak said on its website.
"Owners want a car that is zero-emissions capable but offers the involvement and emotion of a traditional petrol engine supercar," the company said. The car will be "small enough and light enough to be thrilling on public roads" and not just a racetrack, it said.
Callum set up his own design company in 2019 after leaving Jaguar following 20 years at the UK brand.