The race is now on to see which car will be ready to roll first. The Australian entry is on track but needs about $3 million in sponsorship to finish the job and pay for the enormous amounts of jet fuel required.

''Our car is beautifully simple,'' Mr McGlashan said. ''Theirs is obviously a nightmare, with three different engines on it.''

The showdown probably won't take place until 2011, as both teams struggle through technical and financial challenges.

''There's a very good chance they might be up and running before us but I'm 1000 per cent certain that, when it comes down to it, our car is better and it will see us win,'' Mr McGlashan said.

The all-time land speed record is held by British fighter pilot Andy Green, who reached 1228 km/h in the Nevada desert in a turbofan-powered car in 1997. The same designers are behind Bloodhound.