Mercedes-Benz finally showed off the Mercedes-AMG Project ONE Showcar at the International Motor Show in Frankfurt today. It’s a wild new hypercar that the company’s been teasing for a few weeks time.

It seems to have been well worth the wait. The Project ONE is everything you’d want from a ludicrous vehicle that sounds like a concept, but will actually be produced and sold. Of course, it has an equally ludicrous €2.275 million ($2.72 million) price tag to match.

One day we’ll go further than ever before. The Future of Driving Performance has just begun. #AMGFuturePerformance #AMGProjectONE pic.twitter.com/mfresgJ1Zk — Mercedes-AMG (@MercedesAMG) September 11, 2017

It’s not just inspired by Mercedes’ Formula One team, it’s actually built around the 1.6-liter V6 hybrid that Lewis Hamilton is using to lead the 2017 F1 championship. It has more than 1,000 horsepower and a top speed of “beyond” 217 mph, which excites me even if it makes me wonder exactly what Mercedes means by that. The car also has an aerodynamic “shark fin” running down its spine that’s similar to the one being used on the current F1 car, though that’s a more curious choice since the series has banned that piece of tech for next season.

The interior takes cues from the F1 car, too, with the obvious focus being the racing-inspired wheel and seats. But you at least get a few creature comforts that aren’t otherwise found inside Mercedes’ Grand Prix competitor, like two big digital displays, air conditioning, and a dock for your smartphone in the center console.

Other motorsports cues are present here, too. The swoopy Project ONE Showcar has the exotic side profile of a Le Mans prototype racer, and from certain angles, even looks like some of McLaren’s recent track-ready supercars. I think that’s a good thing for Mercedes, which hasn’t experimented with the look of its performance cars in a while. And I’m sure I’m not the only one that is a bit jealous Hamilton got to hop into one already, even if it was probably against a green screen.

But, as if the price weren’t restrictive enough, Mercedes says it’s only going to build 275 of these surreal hypercars. That means the Project ONE Showcars will probably move quickly, and almost exclusively to the kinds of uber-rich enthusiasts who already own the few other hypercars it resembles.