The top executives from Jaguar has confirmed that the company has plans to expand and create a new Project 7 Sports Car for the next generation. The news comes from the Jaguar boss confirming its authenticity.

Project 7 is an ambitious idea from the company and it was a F-type model which was heavily modified to achieve the desired results. The rugged model was designed by Land Rover’s special vehicle operations team powered by a V8 engine. The first edition of the car was capable of rendering 567 horsepower and it is now being offered under the name the F-Type SVR.

It was highly limited in numbers as Jaguar produced 250 cars and they were all immediately sold out. Because of its exclusivity and amazing performance, the cars became a popular choice among collectors. The Project 7 cars were resold as second hand models for a price tag which was much higher than its base price of £135,000. Such level of success doesn’t happen everyday which is what prompted the company to recreate the model once again.

The Jaguar boss confirmed that they are still in early levels of discussion and it will take time before the idea goes onto the floors. He added that there is a positive vibe among the team and they are questioning options as to what they could build after the Project 7. He is interested in taking it a step further which obviously means a standalone model could be in the cards rather than making another F-Type extension. If it is the case, the car is going to be an autonomous release with amazing power and performance.

“Even though, we are impressed by the idea of building a new Project 7, there are plenty of logistics and issues to take into account. It is unclear as to how to price the model, how to sell it and the number of models to actually produce. The business perspective for a car matters a lot than simply announcing something which may not live up to the expectations,” said Ian Callum, design director at Jaguar.

Land Rover Special Operations Boss, John Edwards admitted that the company was surprised by the reception the Project 7 had. He said that the company was really unsure of building 250 models and never expected them all to get sold out but it happened.

“We could have even sold 500 cars if we have built them,” he said. Edwards also clarified that Jaguar is interested in building mainstream models than focusing on one off performance cars.