Multiple automotive news outlets, including Autocar, have learned McLaren will launch the most extreme road car in its history. Known under the code name “P15,” the car will be the second car in McLaren’s Ultimate Series, joining the now out of production P1. ‘P15’ will not be the car’s name when it goes on sale. Production will be limited to 500 cars.

The basis for the car will likely be McLaren’s MonoCage II carbon fiber tub that debuted in the 720S. The surrounding bodywork, according to Autocar, is also said to be all carbon fiber composite. Sources told Autocar that the bodywork has been used only where it delivers a performance, rather than aesthetic, benefit.

“This is the ultimate distillation of form following function. Whichever part of the car you look at, you will visually understand the function of the components,” the source said.

Thanks to the extensive use of carbon fiber in the MonoCage, the P15 is expected to tip the scales at less than 2,866 pounds, compared with 3,410 pounds for the P1. Like every modern McLaren, the P15 will be powered by a version of the company’s 3.8L twin-turbocharged V8. Although far from official, early reports suggest the P15 will be able to accelerate from 0-60 in as little as 2.5 seconds.

The official reveal of the P15 to McLaren customers is expected later this year — with a public debut at the 2018 Geneva Motor Show.