According to German magazine Auto Motor und Sport, Bugatti have finalised plans to develop a new supercar set to rival if only its own model for sheer speed.

A development project under the guise of "Project Lydia" might sound all very inconspicuous, but with Bugatti at the helm, this ain't no picnic. According to German magazine Auto Motor und Sport, Bugatti have finalised plans to develop a new supercar set to rival if only its own model for sheer speed, but they as yet remain just that; plans.

Insider information pins the street-legal "Project Lydia" down to 1.5-tonnes and a monocoque body design, having power in the region of 1,175 PS and a top speed of up to 400 km/h (248 mph). While Bugatti are said to be juggling the attributes of racing excellence and polished design, the German publication expects Bugatti's characteristic grille to stay, much like the Veyron's sweeping side profile and prominent 20-inch wheels. From the world of motorsport, a giant rear spoiler, front air splitter and low ground clearance for both chassis and mid-positioned engine will all feature.

In pursuit of the greatest possible performance, VW are aspiring for a Nurburgring Nordschliefe lap time of six minutes fourty seconds - beating the Veyron by a full minute. With exclusivity as important a feature as its supercar performance, "Project Lydia", named so after Ettore Bugatti's wife Lydia, is expected to be limited to just 70 examples. And it'll come at a price, retailing for a cool 2.5 million euros.

Originally penciled in for a 2009 introduction with support from Supervisory Board Chairman Ferdinand Piech, that date looks likely to shift to atleast 2010 if given the green-light amid scepticism from CEO Martin Winterkorn in the present 'green' political environment.

To see AMS' impressions of the potential new supercar, head over to their site.

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Faster, More Powerful Bugatti In The Works?