Mercedes-AMG One is confirmed as the official name of the new hypercar being developed by AMG under the code name Project One.

Future owners were recently invited to Munich, Germany, where they learned of the car's name and specced out their own examples.

The name stands for the highest automotive ambition: to bring undiluted Formula 1 technology to the road.

But it also signifies the One as the pinnacle of the Mercedes and AMG portfolios and the first of a new generation of electrified AMG sports cars. The Affalterbach tuner has confirmed that the hybrid technology developed for the One will filter across to more of its models.

AMG presented the One as a concept at the 2017 Frankfurt auto show. Since then there's been a lot of development taking place in the virtual world, at secret test sites, and at the Mercedes-AMG F1 team's base in the United Kingdom. The site is where the cars are expected to be built, using the same suppliers as the F1 team.

Unlike the Ferrari F50 whose V-12 was based on the design used in Ferrari's F1 cars at the time, the One will feature the actual engine used in Mercedes-AMG's multiple championship-winning F1 cars: a 1.6-liter turbocharged V-6 complete with turbo-mounted electric motor and 11,000-rpm redline. Three additional electric motors will feature in the One, with one mounted to the engine and a further two at the front axle to form an all-wheel-drive system. Peak power will be above 1,000 horsepower.

Then there's the downforce. The active aerodynamics, which is currently undergoing wind tunnel testing with help from F1 engineers, features a multi-part, two-stage extendable rear wing for maximum downforce in race mode. We hear as much as 1,500 pounds.

The first Ones are expected to be delivered early next year—about the same time Aston Martin will start deliveries of the rival Valkyrie. The ensuing One vs. Valk battle is going to be epic.