Building any car from scratch, let alone a 700 horsepower mid-engine supercar, is no easy task, something New Zealand startup Hulme has found out the hard way.

Despite having completed its first model last year, the CanAm Spyder (pictured below), and parading it around the world, including at the Goodwood Festival of Speed earlier this year, the company has been forced to redesign parts of the car in order to meet various design rules and regulations in many of the countries where Hulme is hoping to sell it.

The redesign particularly concerns the headlight design, though the setback may not be all bad.

This has given Hulme the chance to also improve the aerodynamics and airflow, not to mention, add a nice touch of aggression.

Other changes include a hand-built engine that now develops 700 horsepower thanks to a supercharger. The bespoke engine is being developed with the help of the famous engine builders Nicholson McLaren, which at one point was owned in part by Bruce McLaren, the New Zealander whose name lives on in the McLaren Formula 1 team and new road car division.

Hulme CanAm supercar

Hulme CanAm supercar

According to Hulme, which is now calling its car the “F1”, the redesign will allow it to be sold in all countries that accept the “Group LVV EU”. It will also comply with the “European Small Series” certification for use in all 27 EU states plus many others that accept EU certification. Unfortunately, there’s been no mention of any U.S. launch plans and our strict crash safety regulations may very well rule it out for now.

Note, like the similar Caparo T1, the Hulme F1 is not for the fainthearted. It is a unique car for those with a desire for performance, exhilaration and exotica. Hulme is currently accepting “Options to Purchase” agreements for the very limited first year’s production allocation, with delivery scheduled to start in late 2012.

For more details on the Hulme F1, click here

Thanks to J for sending in the tip!