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The McLaren P1 could be the most expensive production hybrid electric vehicle ever built. Like many hybrids, the P1 can be powered by its engine and electric motor together or by the electric motor alone. A mid-mounted, 3.8-liter twin-turbo V-8 engine and an electric motor add up to a combined output of 903 horsepower and maximum torque of 664 lb-ft. The V-8 is a new version of the familiar M838T engine that produces 727 horsepower at 7500 rpm and 531 lb-ft torque starting at 4000 rpm.

The lightweight electric motor in the car’s race-inspired Instant Power Assist System (IPAS) alone produces 176 horsepower and maximum torque of 192 lb-ft. All power is channeled through a dual-clutch, seven-speed transmission driving the rear wheels.

IPAS allows the P1 to accelerate from 0 to 60 mph in under 3 seconds and 0 to 125 mph in under 7 seconds. Reaching 185 mph from a standing stop requires but 17 seconds, some 11 seconds faster than the McLaren F1 road car. Top speed is an electronically limited 218 mph.

In full electric mode a driver gets about six miles of emission-free driving at speeds up to 30 mph. If the battery is completely discharged, the engine automatically starts to charge the battery and keep driving. Recharging from the grid takes two hours. The 211 pound battery pack is mounted to the underbody of the high-strength, Formula 1-grade carbon fiber MonoCage chassis.

The P1 has regenerative braking with the electric motor operating as a generator under specific conditions to provide additional drag torque, with energy recovered sent to the battery when the throttle is released. Primary braking is provided by a new type of lightweight carbon ceramic disc developed by McLaren’s Formula 1 partner Akebono. The P1’s Drag Reduction System (DRS) is similar to that used in Formula 1 cars. Speed is increased by reducing the angle of the rear wing to lower drag by 23 percent. Both DRS and IPAS are activated via steering wheel-mounted controls.

Want one? Better start saving those pennies and be quick about it. McLaren plans to build only 375 P1 supercars at an expected price of $1.15 million.