Bugatti, the French car company, revealed the newest addition to their family of elite cars on Monday: the 2017 Bugatti Chiron, a 1,500-horsepower sports car. The car will be able to reach over 60 mph in 2.5 seconds.

“The Chiron is the quintessential ultimate super sports-car,” said Bugatti CEO Wolfgang Duerhemer, as he introduced the Chiron. “With the Chiron, we will not only be providing a key element for the image of the Volkswagen Group, but will also be making a positive contribution to group results.”

The wait time for one of these supercars is a minimum of 18 months and only buyers who own a Bugatti Veyron have been allowed to see a full-scale model.

The all-wheel-drive coupe is “well-positioned to become the next world speed record-holder,” Bugatti says.

The company plans to build 500 of the cars and will begin deliveries this fall, with more than 150 orders already in hand.

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