The upcoming Mercedes-AMG Project One hypercar is without question going to be fast: it's a street-legal car with a Formula 1 race car's powertrain.

Now it seems the Project One might set a new bar for defining fast: destroying the all-time Nürburgring lap record.

AMG boss Tobias Moers told Autocar that "it's reasonable to speculate" the brand's new hypercar would aim to beat the all-time 'Ring lap record.

That record in question was 6 minutes and 11.13 seconds set in 1983 by a Porsche 956 race car with Stefan Bellof behind the wheel.

The current lap record for a street-legal car is the 6:43.22 set last year by the McLaren P1 LM. And the record for production cars is the 6:47.3 set by the Porsche 911 GT2 RS, also last year.

Tobias Moers

Tobias Moers

Mercedes-AMG hasn't released full details in regards to the Project One's powertrain, but the car will have over 1,000 horsepower from a 1.6-liter turbocharged V-6 and four electric motors. The engine gets mated to an electric motor that helps send power to the rear wheels. There's a second electric motor integrated with the turbocharger to help spin its compressor early. And then for additional power and traction there are two more electric motors powering the front wheels.

Due to its sleek body and active aerodynamics, the Project One should produce around 1,500 pounds of downforce at speed, which will aid in its quest to race around the 'Ring.

Whether the Project One can become the world's fastest car around the 'Ring is yet to be seen, but if accomplished it will be quite a feat considering this is a production car we're talking about.

The Project One is expected to be revealed in production form later this year. AMG will also reveal the name of the car at the reveal.

Stay tuned.