The Bugatti Veyron, one of the most expensive cars in the world, has become an instant legend in a couple of years. Designed by Volkswagen, the Veyron is powered by a W16 (thats two V8s) engine that produces 1001 horsepower and has 4 turbochargers. The $1.4 million roadster accelerates from 0-60 in 2.46 seconds and 0-100 in 5.5 seconds and has a top speed of 253 mph. The special edition Bugatti EB Veyron 16.4 Pur Sang, which was shown to the media at the Frankfurt Motor show, was sold out in less than 24 hours. The latest news in the year is that Bugatti is developing $3m uber-Veyron track car. The speculations made earlier were of a super-luxury sedan, an entry-level roadster and a targa variant of the existing Veyron. German website Motor Auto und Sport has posted a series of drawings, which could be the rumored model, more expensive, more powerful and faster than the Veyron. The new rumored model of the supercar is touted to be more track-focused but still road legal. It will get its power from the Veyrons 8-liter quad-turbo W16 engine thet produces 1,175 hp.

The new supercar is said to be being developed under the codename Project Lydia after Ettore Bugattis wife. It would exceed 400 km/h and get a Nurburgring lap time of 6 minutes and 40 seconds. The project was originally due for release next year, but it looks like the project has been put on hold for now. Meant for the super-rich only, the rumored supercar is estimated to cost a whopping 2.5 million.