Earlier this year we brought you details on the next supercar project from avid car collector James Glickenhaus, the man behind 2006’s one-off Ferrari P4/5 by Pininfarina and its racing sibling, the P4/5 Competizione, unveiled in 2011.

At the time, we told you the car would be powered by a twin-turbocharged V-6, weigh about 1,600 pounds, feature a trio of airfoils and come with an innovative door design.   

Now Glickenhaus has shed more light on the project and some of the reasons behind it.

The new supercar will be the first car from Glickenhaus’ own brand, Scuderia Cameron Glickenhaus (SCG), and it will be called the 003, since it is Glickenhaus’ third one-off project (the P4/5 by Pininfarina and P4/5 Competizione being the previous two).

SCG is targeting a power to weight ratio similar to that of Glickenhaus’ Ferrari 330 P3/4, pictured above. A carbon fiber tub will be employed, with power most likely coming from a twin-turbocharged V-6 (we hear a tuned version of Maserati's new 3.0-liter V-6 is under consideration).

Around 500 horsepower is targeted, according to our previous report, with the curb weight tipped to come in at just 1,600 pounds. Glickenhaus says the car’s overall size will be similar to his Dino 206 Competizione. He also confirmed the three airfoils, which he says will be integrated into the car’s form just as the designers did with the Porsche 959’s rear wing.

The final shape is still being worked on but a teaser sketch will be released once a design is locked in. Overseeing the design is Pininfarinia’s Special Projects chief Paolo Garella. Responsible for the mechanicals, meanwhile, is Glickenhaus’s long-time friend Sal Barone.

Glickenhaus says he was motivated to build a ‘simpler’ supercar after seeing the latest crop of hybrid supercars from the likes of Ferrari, McLaren and Porsche. As impressive as they were, he realized their cost and complexity meant few owners would ever race them and that meant something had been lost in the world of modern supercars.

Unfortunately, a debut for the SCG 003 is not expected until 2015's Geneva Motor Show. Shortly after, an 003C racing version will also appear.