Hennessey is developing a successor to its Venom GT which bowed out of production last year. The new model is called the Venom F5, with the F5 in the name a reference to tornado speed classification. F5 tornado speeds range from 260 to 318 mph, so you get an idea of the type of performance Hennessey has in mind for its newest hypercar.

Hennessey showed a concept of the Venom F5 during the 2017 SEMA show. Apart from a top speed target of 301 mph, everything else about the car remains in a state of flux. In fact as recently as March, Hennessey was still mulling whether to go with a quad-turbocharged V-8 instead of the twin-turbocharged unit announced at the SEMA debut.

Well, we don't have long now until Hennessey provides some fresh details on the Venom F5. The company will present the concept at several events taking place during this month's Monterey Car Week, starting with an appearance at The Quail, A Motorsports Gathering on August 24, where we'll learn some key details about the car. Hennessey CEO and founder John Hennessey will also be present to answer any questions.

What we do know is that Hennessey fully intends to attempt a land speed record with the Venom F5. The current record for production cars is the 277.9 mph set by the Koenigsegg Agera RS last November. The tires Hennessey will use are likely to be Michelins.

We also know that the Venom F5 will be based on a unique chassis developed by Hennessey. Some of the development work will take place at the Nürburgring, where the company is hoping to run the car under the 7:00 barrier. The only rear-wheel-drive production car to achieve such a feat is Porsche's 911 GT2 RS, which holds the current record time of 6:47.3.

The current power target for the Venom F5 is a staggering 1,600 horsepower, but as mentioned above the final figure could change depending on what powertrain configuration is selected.

We don't have long to wait since Monterey Car Week isn't far away. It runs from August 18-26 and concludes with the Pebble Beach Concours d'Elegance. For more coverage, head to our dedicated hub.