Last summer, Bugatti broke the 300 mph (482 km/h) barrier with a prototype of the Chiron that hit 304.773 mph (489.484 km/h) and preceded the Chiron Super Sport 300+ special edition. Now, it seems that Koenigsegg wants to steel their crown with an even more impressive hypercar.

Reportedly named the Mission 500, it’s a concept, according to TheSupercarBlog, which states that it will be presented at the 2020 Geneva Motor Show in March. If there’s one thing that you should pay attention to, that’s the ‘500’ designation, as it’s thought to represent the top speed: 500 km/h (311 mph).

Details of the Swedish blue-blooded machine are scarce and we should always take these reports with a pinch of salt, but if true, it is possible that a production version could build on the Jesko, an impressive hypercar limited to 125 examples that can, in theory, max out at over 300 mph (482 km/h). The Jesko packs a 5.0-liter twin-turbo V8 engine that produces a stunning 1,600 PS and 1,500 Nm of torque. The output is possible with E85 in the tank, as using 95-octane unleaded would get you 1,280 PS.

The never-ending battle to set new top speed records would inevitably force Bugatti’s hand to come up with an even quicker hypercar. Let’s not forget that Hennessey has similar ambitions too and was confident last year that it could beat the Chiron’s record with the Venom F5.

Aside from the rumored Mission 500, Koenigsegg’s stand at the 2020 Geneva Motor Show is believed to include at least two other vehicles.