Australia's automotive industry may have hit an all-time low, but that's not stopping Central Australia lining up to be the driving force behind a multi-million-dollar supercar project.

The JOSS supercar is the dream of Melbourne car designer and modeller Matthew Thomas, who previously worked for car giants such as BMW, Ford, Aston Martin, Rolls Royce and the Stewart Grand Prix Formula One racing team.

Named after a 1860s goldminer whose photo Mr Thomas spotted in a book about the Victorian gold rush, the JOSS supercar had been a 20-year obsession for Mr Thomas, who had been working on his answer to the top of the market European high-performance machines; one that would give them a run for their money on the track and on the showroom floor.

A clay model of Matthew Thomas's JOSS supercar prototype. ( Supplied )

But designing, building, testing, retesting and marketing a supercar required some major financial horsepower, which up until now had eluded him.

Mr Thomas tried to crowdfund the project, setting up a page appealing to the public for help, but fell well short of the target of $480,000.

Enter the Hatzimihail family, who migrated to Australia in the late 1950s, with Alex Hatzimihail born in Alice Springs in 1975.

With father George as chairman, Alex is chief executive of lighting technology company EFL Tech.

On the lookout for investments, Alex was told of JOSS supercar idea by an employee and telephoned Mr Thomas to enquire about the project.

"I heard this upbeat, enthusiastic voice who seemed to ring all the same bells about looking after the automotive industry and keeping manufacturing here in australia," Mr Thomas said.

The family weighed in with a $35 million investment.

"We really appreciate getting that kind of business input into the company," Mr Thomas said.

While the cash injection will mean Mr Thomas is no longer the head of the company - Alex Hatzimihail is now chief executive - he is happy to retain control of his key areas of interest.

Australian car designer Matthew Thomas (left) supervising work on his JOSS prototype. ( Supplied )

"We had other interest, including from Asia, but to go that way would have involved losing the intellectual property rights.

"What Alex offered was to keep it in Australia. Even though I am a lesser shareholder, I continue to be involved as the technical director and overseeing the design and engineering of the vehicle."

He said the involvement of the Hatzimihail family would allow JOSS to "stay loyal to the original concept of the vehicle".

But with a projected price range of between $700,000 and $1 million, does the world need - or want - another supercar?

"This is a very small market but an ever-growing market and expanding market," he said.

"The price range is suitable. These cars are a symbol of someone's success in business, they really show a lot about the character of the owner."

'Hands-off the steering wheel' approach by new CEO

M Hatzimihail said he had always wanted to own a car company to compete with Maserati and Ferrari.

"A few months ago, one of my investigators who does a lot of research for me contacted me and said there was a company called JOSS supercars," he said.

JOSS JP1 supercar (projected specifications) Engine: 5.0 litre V8 Capacity: 5,000cc Max RPM: 8,000 rpm Power: 420kW Torque: 560Nm 0 – 100km/h: 2.8 seconds (anticipated) Top speed: 340 km/h (Source: Joss)

"I contacted Matthew, who was ready to sell his intellectual property rights to Asia. After a long negotiations, the Hatzimihail group own 60 per cent."

He said building sports cars with top end technology "always works".

Mr Hatzimihail said the company already had orders for 20 cars from overseas buyers.

He said the company would be publicly listed on the Australian Stock Exchange next year.

"There will be a lot of European engineering in the vehicle. Our partner, who we can't reveal today, is a very big German automobile company, whose engine will power the car," he said.

Asked if he would take a hands-on role in testing the JOSS on the track, Mr Hatzimihail said he preferred the somewhat slower pace of the boardroom.

"I am just the CEO, that means I control the company. We'll have a gentleman called Liam Talbot, he will be our race driver," Mr Hatzimihail said.

Silver lining to Australia car industry crisis

Mr Thomas said the gutting of the Australian automotive industry meant JOSS had a huge talent pool of engineers, designers and builders to call on.

Joss creator Matthew Thomas (white jacket) and others at track testing for the JOSS JP1 supercar prototype. ( Supplied )

"The demise of Holden and Ford's Australian businesses means there are a lot of switched on and intelligent people available," he said.

Mr Thomas said the design and engineering centre would be located in Melbourne to capitalise on the talent pool of ex-Holden and Ford employees, with the manufacturing hub to be in Brisbane.

He said engineering and testing for the car would happen in Alice Springs.

"A lot of car companies pay a lot of money to ship cars around the world to have this happen. We can do hot weather testing and calibration of the vehicle in Alice Springs."

Mr Thomas said he hoped the first JOSS model - the Vanguard - will be on sale in 2017.