Mercedes-Benz is out to set a new standard for hyper cars. Its AMG division is celebrating its 50th anniversary this year and has used the occasion to debut a new concept vehicle. The Project ONE is the latest—and perhaps wildest—concept car recently premiered at the International Motor Show in Frankfurt, Germany.

Derived from the latest Formula 1 technology, the Project ONE features a turbocharged 1.6-liter gasoline engine alongside four electric motors.  The resulting combination produces over 1,000 horsepower and a top speed in excess of 217 miles per hour. The same racing influence is seen throughout the vehicle, from its body structure to Formula 1 inspired steering wheel.

The concept is the first step in a new line of performance-hybrid drive vehicles and points to the future of the high performance vehicle division.