Within this short timeframe the team has not only manufactured and painted the body panels, laid up the composite tub, fitted and tested the bespoke V8 engine and gearbox, fabricated suspension components, created an exhaust system and assembled a full rolling chassis, but they've also made some of the production tooling for the car.

Calling the T1 a road car is pushing the definition of the term to the limit, but the original head-spinning performance claims - 0-60mph in 2.5sec, 0-100mph in 5sec and 0-100-0mph in less than 10sec - are starting to move towards reality. For a start the 2.4-litre V8 engine, supercharged via a belt-driven Vortex blower, has now been on the dyno at Mountune where it easily delivered the headline 500bhp (at 10,500rpm) needed to give the car its astonishing power-to-weight ratio of 1000bhp per ton.

There was potential for even more power, but drivability was deemed more important so attention turned to fine-tuning the ECU for good low-speed running and engine durability instead, the aim being for the engine to run happily for a full season without any maintenance. Work on the standard-fit launch control and traction control (controlled via two dials on the steering wheel) is ongoing and is claimed to be revolutionary compared with existing systems.

During the development, McLaren F1 designer and evo contributor Gordon Murray helped the team hone the advanced aerodynamics that give this car its astonishing 3g cornering potential. The massive downforce generated effectively doubles the weight of the T1 at 150mph and it's at these sorts of speeds that such cornering forces will be experienced.

Caparo wants to see its car being used on the road and is in the process of signing-up a navigation supplier to design a bespoke satnav unit. It has also fitted a 75-litre bag-type fuel tank to give up to 500 miles between fill-ups in road use. However, while this first show car has the plush interior option, designed to be comfortable over long distances, owners will have to get accustomed to a 'legs up' driving position akin to that of single-seat racing cars. Also, the cockpit canopy pictured here is an option (which, in the wind tunnel, increased top speed by 5mph to 205mph) - a wraparound screen is standard.

Expect to see the £150,000 Caparo T1 in action for the first time at the Goodwood Festival of Speed in July. Deliveries of customer cars should begin in September, and it'll be around then that the T1 will be in Germany attempting to set a new lap record at the 'Ring, a circuit on which it has driven many 'virtual' laps during development. The Caparo team won't say what the T1 might be capable of, but the vibes emerging from its Hampshire base hint towards a time of 'six minutes something'...

If the T1 lives up to its early promise when we drive it, then it could well be a revolution in supercar design. For more info go to www.caparo-t1.com.