Hennessey has announced plans to develop a Venom F5 with an even higher top speed.

Back in February we saw the Lotus Exige-based Venom GT hitting 270.49 mph (435.31 km/h) at the Kennedy Space Center but Hennessey believes there is room for an improvement to around 290 mph (466.71 km/h) or even more. In an interview with Top Gear, John Hennessey said "I think something in the 290 mph range will be possible" when referring to the Venom F5 (named after the most powerful tornados on the Fujita scale).

The new car promises to combine optimized aerodynamics with updated technology and an increase in power of the twin-turbo V8 7.0-liter from 1,244 bhp (928 kW) to more than 1,400 bhp (1,044 kW) which would make it even more powerful than the Koenigsegg One:1. The Venom weighs 1,244 kg (2,742 lbs) while the carbon fiber-bodied F5 will tip the scales below 1,300 kg (2,866 lbs).

It will adopt a rear-wheel drive layout receiving all that power through a six-speed manual transmission and a single-clutch paddle-shift gearbox. A dual-clutch transmission was considered but Hennessey decided to drop it due to weight and durability issues. Another trick up its sleeve will be a GPS-based traction control system offering calibration for specific circuits.

Hennessey will unveil the Venom F5 next year while deliveries will kick off sometime in 2016. More than 30 units are planned, with each carrying an estimated starting price of more than 1.2M USD before taxes.

Gallery: Hennessey Venom F5 announced with 290 mph top speed

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