Ferrari officially has another competitor in the supercar arena. The new for 2011 McLaren MP4-12C is the newest offering from McLaren. While the automaker's success in F1 racing is more than apparent, it hasn't dabbled in the street car offering since it ended production of the F1 in 1998. As incredible as that car was (and still is today), the new MP4-12C will also have a top speed somewhere above 200 mph. Really, what else would you expect from McLaren?

With the F1's top speed of 240 mph, it'll be interesting to see if the new model is capable of surpassing its predecessor. At the moment, McLaren isn't releasing any specific details. The new MP4-12C is powered by a twin-turbo 4.8 liter V8 producing 600 horsepower and mated to a seven-speed dual-clutch transmission with paddle shifters. There were early rumors that McLaren would not use its own engine in the car, but that's been proven incorrect, as this engine is also meant to showcase what the company is capable of building in-house.

McLaren is claiming the car can go from zero to 124 mph in under 10 seconds and if that's the case (which it almost certainly is), Ferrari and Lamborghini will undoubtedly be paying close attention to their new British competition.