Nothing puts into perspective the speed of modern supercars better than the current McLaren MP4-12C.

With performance to rival the McLaren F1, at one time the pinnacle of road car development, it's now considered merely an entry-level supercar, leaving room for something even faster. That role is being filled by an upcoming hypercar, which U.K. magazine Autocar reports is now undergoing testing.

The mega-McLaren is set to rival the Bugatti Veyron, upcoming Porsche 918 Spyder and Ferrari's replacement for the Enzo. To ensure it won't be left behind, a new 799-horsepower 5.0-liter V8 is being developed with Ricardo. Putting the power through a new seven-speed dual-clutch transmission, 60 mph should arrive in 2.8 seconds and 200 mph won't even be a challenge.

Styling of the MP4-12C has been criticized in some quarters for lacking the flair you might find in a Ferrari or Lamborghini, so the faster McLaren will be "bigger, angrier and more functional looking".

McLaren MP4-12C

McLaren MP4-12C

For the budding Lewis Hamiltons and Jenson Buttons the car will feature a data logger and video camera to record on-track moments.

Testing started last month in Spain and has moved on to Germany, with hot weather testing also taking place in Bahrain. Production is set to begin in 2014 at a rate of two or three cars per week.

The price? A bargain compared to the inflation-adjusted $1.3 million of the original McLaren F1, at just over $627,000.