The tiny Mediterranean province of Monaco is home to many of the world’s hottest and most-exclusive supercars and soon it may have a homegrown piece of exotic machinery running up and down its streets. Local carmaker Monte Carlo Automobile (MCA) recently took the wraps off a new supercar prototype dubbed the ALA 50, which was revealed by Sovereign Prince Albert II to celebrate the company’s 25th anniversary.

Company founder Fulvio Maria Ballabio designed the ALA 50 and is building it in conjunction with father-and-son partnership Guglielmo and Roberto Bellasi. The car is made entirely of carbon-fiber and features a 650hp V8 engine developed by former Renault Sport boss Christian Contzen and engineering firm Mecachrome.

Together with the official sponsor and supplier of the project, Bartoli de Clarion, Ballabio and his team hope to enter the car in the 2010 Le Mans 24 Hours race and if successful will eventually start limited production of a road-going version soon after.