Scuderia Cameron Glickenhaus on Monday announced it signed a deal that will enable it to race in the so-called hypercar class that will replace the premier LMP1 class of the World Endurance Championship from the 2020/2021 season on.

SCG will compete with a hypercar called the 007, which the company previewed in July with a series of computer-generated renderings. The final design is in a state of flux as the rules for the hypercar class are still being worked on.

As the highlight of the WEC is the 24 Hours of Le Mans, it means we could see an American team win overall in the famous French race for the first time since Ford's GT40 won half a century ago. (Ford's GT only won its class in 2016's running.) SCG plans to field two 007s throughout the season.

Announced in June, the hypercar class, whose name is yet to be confirmed, calls for race cars styled like the latest production hypercars, with particular focus to be applied on the appearance of the cars. The cars will also require KERS-style hybrid systems as well as all-wheel drive.

Importantly, the rules also mandate that road-going versions of the race cars will need to be launched. That's why SCG will build and sell 25 road-going versions of the 007 to hypercar collectors. Helping to develop the 007 is an engineering company by the name of Podium Technology.

WEC organizers are seeking to significantly reduce costs of the hypercar class compared to the current LMP1 class in an effort to lure more automakers. Right now the only automaker competing in the top class is Toyota. The Japanese firm is yet to formally announce an entry in the 2020/2021 WEC season but has announced plans to develop a hypercar, meaning it's only a matter of time.

Aston Martin has signalled its interest to compete with a race version of a new hypercar in the works code-named the 003. The rumored name of the Aston hypercar is Valhalla. Get it? To go with the Valkyrie.

Sweden's Koenigsegg has also shown some interest in the hypercar class.