The ultra-exclusive hypercar will deliver more than 1,000 horsepower via a performance hybrid powertrain.

Mercedes-AMG has teased its upcoming Project One hypercar, expected to debut at the Frankfurt motor show this summer.

Described as the "most fascinating two-seater that will ever hit the road," the ultra-exclusive hypercar will pair a Formula One engine for the rear wheels and electric motors driving the front axles. Together, the power sources are expected to deliver more than 1,000 horsepower.

"It is a project that sets a spectacular milestone on the way to the future of Mercedes-AMG," the company promises.

Speaking at the Detroit auto show, AMG head Tobias Moers claimed the car will be able to run on electricity alone for up to 15.5 miles, according to quotes published by Autocar. It is said to be the first street-legal car with a true F1 engine, a 1.6-liter turbocharged gasoline mill detuned for use on public roads.

"The red line is over 10,000 even in the street legal car," he said.

The company is expected to begin producing prototypes this fall. A production target remains unclear, but only 300 examples will be available. The car will be only slightly less exclusive than its primary rival, the Aston Martin - Red Bull AM-RB 001.