Here's a closer look at the upcoming SCG 003 from James Glickenhaus, and the new supercar is taking fabulous shape.

We already know the SCG 003 will sport a carbon fiber chassis, and rumors hint that the car’s power output will exceed 500 hp despite a curb weight of just 1,600 lbs.

The source of that power? For the race car version, a 3.5-liter twin-turbo V-6, it seems, based on SCG's own design but derived from a Honda unit. But the road-going car will be much more interesting: it gets a variety of engines including a twin-turbo V-12 good for possibly 725 hp or more in some configurations. The street-legal SCG 003 may also cost as much as $2.8 million.

The exterior shape of the SCG 003 appears to be an evolution of the Ferrari P4/5 Glickenhaus commissioned years ago, though the final product may yet prove to have an entirely unique look, too. Pininfarina’s Special Projects chief Paolo Garella is overseeing the design, so a similar theme is a definite—and desirable—possibility.

Stay tuned for more on the SCG 003 as development continues.

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