First prototype of 550bhp Brit supercar: the Arash AF-10

It's come a long way, baby; this is the first fully functional prototype of the 550bhp Arash AF-10 supercar.

Conceived by Arash Farboud and announced way back in 2006, this working model of the long-awaited AF-10 features a 7.0-litre Corvette V8 and quite a lot of weapons-grade tech.

See more pics of the Arash AF-10

You get a ‘featherweight, Nomex-cored' carbon-fibre body, triaxial carbon-fibre and aluminium honeycomb core, steel roll cage and flat underfloor to assist aerodynamics.

Speaking to TopGear.com, Arash says the base AF-10 pictured "will produce between 550 and 580bhp, and around 370lb ft of torque", but higher-spec AF-10s will hit a heady 1,200bhp - the same as a Veyron Super Sports.

But the comparison ends there. Arash says the Big Daddy 1,200bhp version "is practically a Le Mans car".

While the base AF-10 hasn't been put through any 0-62mph/top speed tests, Arash is "aiming for a three-second 0-62mph time and a 207mph top speed".

Interested? The 550bhp model you see above costs £320,000, while the 1,200bhp version will set you back around £1.6 million. You then get into the rather expensive business of customising your AF-10, which includes anything from the gear ratios to having your name painted onto the body.

"Customers in this market enjoy that kind of thing," he says.

It's more expensive than a Ferrari 458, Mercedes SLS and Lexus LF-A - but looks like a racing Enzo with testes. What say you, supercar lovers?