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 |  Oct 18 2011, 9:00 AM

With sales of the MC4-12C now well underway in Europe, McLaren has reportedly begun testing on its new hypercar and successor to the F1.

Targeting the world’s most exotic exotics, the “mega-Mac” is being benchmarked against cars like the Veyron, as well as the upcoming models like the successor to the Enzo and the Porsche 918 Spider.

According to AutoCar, first tests of the car took place in Spain last month.

Rumored to power the supercar is a 5.0-liter V8 engine making just shy of 800-hp – or roughly 160-hp per liter. A 7-speed dual clutch transmission is also expected to be a part of the package. In addition, look for a pushrod suspension setup, five-stage traction control system, a carbon fiber tub and active aerodynamics.

Priced at close to one million dollars, McLaren is expected to build just 500 units over a four year period.

[Source: AutoCar]