Ferrari's F1 car with number plates

Ferrari has trumped its supercar rivals with its fastest-ever road-legal car revealed at the 2013 Geneva motor show.

The oddly named LaFerrari - literally translated to The Ferrari in English - is the latest addition to the new-age breed of hybrid-powered hypercars. In typical Ferrari style it produces more power and accelerates faster to 300km/h than either the McLaren P1, which was also revealed in final production trim at Geneva, and the Porsche 918 Spyder that's due to hit the road in September.

It even outpaces Lamborghini's wild Aventador-based Veneno that was revealed the day before, but misses out on the Porsche's and McLaren's ability to run under full electric power at low speeds.

Ferrari unveils the fastest road car it has ever made, the LaFerrari.

Instead, Ferrari claims its successor to the Enzo is as close as you can get to a Formula One car with number plates.

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“We chose to call this model LaFerrari because it is the maximum expression of what defines our company - excellence,” said Ferrari President, Luca di Montezemolo.

“Excellence in terms of technological innovation, performance, visionary styling and the sheer thrill of driving. Aimed at our collectors, this is truly an extraordinary car which encompasses advanced solutions that, in the future, will find their way onto the rest of our range, and it represents the benchmark for the entire automotive industry.”

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The new Ferrari Enzo

LaFerrari, Ferrari's fastest road car has been unveiled at the 2013 Geneva motor show.

At the heart of the LaFerrari is an upgraded version of the company's 6.3-litre V12 also found in the F12 Berlinetta. With an increased 13.5:1 compression ratio and numerous internal modifications, it alone produces a staggering 596kW of power at 9000rpm - and can achieve a maximum engine speed some 250rpm higher - while peak torque of 700Nm is reached at 6750.

The V12 engine, however, is also assisted by a pair of electric motors developed by its F1 electronics partner, Magneti Marelli, using technology it has learnt since the introduction of Kinetic Energy Recovery Systems (KERS) in F1 four years ago. The LaFerrari's HY-KERS system incorporates a 120kW electric motor into the drivetrain, which boosts its total power output to 718kW and maximum torque to 900Nm, as well as a smaller secondary motor to drive the ancillary systems.

A complex set of algorithms in the car's computer controls the power delivery of the combined powerplants to boost low-down torque for instantaneous response. Ferrari says the electric motor even maintains high engine speeds from the V12 through cornering for faster exit acceleration.

The electric motors are provided energy through a high-density battery pack that is mounted to the floor of the car's carbon fibre chassis and weighs just 60kg. It is recharged under braking as well as by diverting excess torque from the V12 engine when necessary.

Ferrari says the HY-KERS system in the LaFerrari is designed mainly to improve performance and, unlike the P1 and 918 Spyder, it cannot be driven solely on electric power as it “would not fit the mission of this model”.

But Ferrari has admitted the car was tested in full electric mode during its development phase - which reduced its fuel consumption by a third (it still drinks about 14L/100km) - and that it could be implemented in such a fashion on future models.

The power is delivered to the rear wheels through a seven-speed dual-clutch gearbox and Ferrari claims it can rocket to 100km/h in less than three seconds, similar to the McLaren P1, Porsche 918 Spyder and Lamborghini Veneno. It will match the McLaren to 200km/h - both claiming the double ton can be achieved in about seven seconds - but the Ferrari is more than two seconds faster to 300km/h.

In comparison to its predecessor, LaFerrari can lap Ferrari's Fiorano test circuit five seconds faster than the Enzo and reports have indicated it can lap the Nurburgring in less than seven minutes, making it not only Ferrari's fastest-ever road car but one of the world's fastest cars.

It's not just the power that helps it achieve such performance though. The car is built around a lightweight carbon fibre chassis that is stiffer and has a lower centre of gravity than the Enzo, and despite the added weight of the battery pack, it tip the scales at just 1360kg - 5kg lighter and less than most small cars.

Its distinctive body was honed in the same wind tunnel as the F1 racers and features active aerodynamic devices such as front and rear diffusers, guide vanes under the body and a rear spoiler that increase downforce when required without compromising its drag coefficient.

Only the elongated wing mirrors – they're so long to see around the LaFerrari's broad rear wheel arches – stand out as being out of place.

To ensure it stays firmly planted on the road, the LaFerrari's double wishbone suspension has the latest magnetic shock absorbers, the carbon brakes have been improved, it wears specially-crafted Pirelli P-Zero tyres and it features a suite of electronic safety systems.

The two-seater cockpit has also been influenced by its F1 cars. The seats themselves are a fixed part of the chassis and are set at a reclined angle similar to how Fernando Alonso and Felipe Massa sit, but both the pedal box and steering wheel are adjustable and will be tailored to each individual owner.

Ferrari has reportedly received more than 700 requests for its flagship hypercar - including about seven from Australia's wealthiest car collectors, even though it cannot be registered here because it will only be produced with the steering wheel on the left.

But Ferrari says it will only produce a maximum of 499 LaFerraris.

Each is expected to cost more than $2 million, before you add on local taxes such as GST and luxury car tax.