It’s official: The Jaguar F-Type Project 7 will go into production and be on sale by the middle of 2015.

“The Project 7 is already faster than the F-Type Coupe R on track,” Paul Newson, Director of Special Vehicle Operations, said. “We expect it to be the fastest Jaguar ever around the Nurburgring, a lap time will come later.”

The F-Type Project 7 made its first appearance at the Goodwood Festival of Speed last year as a prototype. The F-Type Project 7 takes the design features of the famous Jaguar F-Type convertibles and adds a racer appeal by adding elaborate colors and a body design concerned only with aerodynamics. The car is constructed of aluminum with a carbon-fiber bodykit keeping the weight below 3,500 pounds.

The F-Type Project 7 can accelerate 0-to-60 mph in just 3.8 seconds and tops out at 186 mph thanks to a souped up 5.0-litre supercharged V8 engine that churns out 567 hp. That is 80 more ponies than the flagship F-type V8 roadster.

The car will be the first project for Jaguar’s Special Operations division, which will handcraft each unit.

The Jaguar F-Type Project 7 is limited to just 250 units. It will retail for around $230,000.