Bugatti is close to completing the last of its Chirons, after which the company will start building the Mistral, a roadster sharing its platform with the Chiron and destined to be Bugatti's last car powered by the quad-turbo 8.0-liter W-16 that first appeared in the Veyron almost two decades ago.

Bugatti presented the Mistral for the first time during August's 2022 Monterey Car Week, and on Thursday the company said the car will be capable of reaching speeds in excess of 261 mph in its Top Speed mode—the speed at which the regular Chiron is capped.

Powering the Mistral is the same 1,578-hp version of the W-16 reserved for special models like the Chiron Super Sport 300+, and other Chiron-based low-volume cars. This means the Mistral will probably reach speeds much higher than 261 mph, as the Chiron Super Sport 300+ reached 304.8 mph in 2019.

Bugatti has said it plans to set a land-speed record for an open-top production car with the Mistral. The record stands at 265.6 mph, set by Hennessey's Venom GT Spyder in 2016, and Hennessey will likely also be out to beat it with its new 1,817-hp Venom F5 Roadster.

According to Bugatti, keeping the Mistral stable at such speeds will be more of a challenge compared to the fixed-roof Chiron Super Sport 300+. According to Emilio Scervo, chief technological officer at Bugatti, controlling air flow so that optimal cooling and aerodynamic balance are achieved, all while maintaining the elegant looks, is critical.

The solutions include the extended front splitter, aerodynamic underbody elements, and an active rear wing that sits flush with the body when not in use. Another key change is to the Bugatti horseshoe grille; a new shape enables the engine's radiator to be fully fed by the one central intake, leaving the two side intakes to focus only on providing air to the intercoolers.

Additional intakes are found in the headlights, designed to channel air around the car, and behind the headrests, to feed air to the engine. Air flowing underneath the car is guided by channels that end with a rear diffuser.

Bugatti will build 99 examples, each priced at 5 million euros (approximately $5.07 million). Deliveries will start in 2024 and all build slots have been claimed.