The new flagship supercar will come with a new 5.0 liter V8 featuring 799 bhp (596 kW / 810 PS) and 799 Nm (590 lb-ft) of torque.

According to Autocar, British automaker McLaren is developing a new flagship supercar that will rival the Bugatti Veyron.

The news is not surprising, since last year McLaren's executive chairman Ron Dennis called the Veyron a 'piece of junk'. We guess Dennis thinks it won't be too difficult a job to beat that benchmark.

The 'Mega Mac', as it is being referred to, will have a carbon-fiber monocell similar to the MP4-12C. It will be powered by a 5.0 liter V8, developed in partnership with Ricardo, that produces a walloping 799 bhp (596 kW / 810 PS) and 799 Nm (590 lb-ft) of torque.

Because of those figures, the car may come to be called the 799.

The new supercar will come with a seven-speed dual-clutch gearbox from Graziano and do the 0 to 60 mph (96 km/h) sprint in just 2.8 seconds.

McLaren sees a production run of around 100 to 150 units annually for a period of 3 to 4 years.

The Mega Mac will cost between £350,000 and £400,000 and is slated to debut in 2014.

McLaren mulling a 'Mega Mac' to rival Veyron - report