Last year, the Bugatti Chiron Super Sport 300+ became the first production car in the world to break the 300-mph barrier, beating Koenigsegg and Hennessey in the race to 300 mph. But we knew it was only a matter of time before Koenigsegg came back fighting. Koenigsegg has already confirmed that a 300-mph version of the Jesko is in development, which could be previewed at the 2020 Geneva Motor Show in March.

Inside sources have told The Supercar Blog that Koenigsegg will present a new concept car at the 2020 Geneva Motor Show called the 'Mission 500.' As the name suggests, this concept will reportedly preview a production car capable of hitting 500 kph - that's 310 mph.

This would make the concept even faster than the Bugatti Chiron Super Sport 300, which achieved a top speed of 304.773 mph. It will also be faster than the Koenigsegg Agera RS, which recorded an average top speed of 277.87 back in 2017, setting a world record at the time.

Details are still scarce, but the Mission 500 will most likely be based on the Koenigsegg Jesko that debuted at last year's Geneva Motor Show as the replacement for the Agera RS. In the standard car, a twin-turbo 5.0-liter V8 produces 1,600 horsepower and 1,160 lb-ft of torque, enabling the Jesko to hit 0-62 mph in around 2.5 seconds.

Only 125 Jeskos are being built, each costing an eye-watering $2.8 million. Customer deliveries are slated to begin in early 2021.

Bugatti has also been teasing a mystery new hypercar that appears to be another special edition version of the Chiron. No details have been revealed yet, but we're expecting Bugatti's new hypercar to break cover at the 2020 Geneva Motor Show, which kicks off on March 3. We can't wait to see Koenigsegg and Bugatti battle it out at the show.