Furthermore, the secretive new model has also been confirmed for a public debut at the 2016 Geneva Motor Show in March.
The Chiron name honours Bugatti racing driver Louis Chiron, and the styling of the name (pictured above) is a reflection of Mr Chiron's signature. Chiron dominating grand prix racing for a decade beginning in the 1920s.
“In Louis Chiron, we found a worthy patron for a new model in the history of our brand,” Bugatti President Wolfgang Dürheimer said.
“The name of the best racing driver and the most successful Bugatti driver of his time for the best super sports car of the present day, that’s the ideal combination.”
While understandably eager to speak of the achievements of Mr Chiron, Mr Dürheimer added the new hypercar to bear his name will offer nothing less than the best performance car attributes.
“The Chiron will set new standards in every respect,” Dürheimer said. “We will continue to produce the world’s most powerful, fastest, most luxurious and most exclusive production super sports car. This is the claim of Bugatti and our customers.”
Mr Dürheimer stopped short on providing raw numbers for the Chiron, but its 8.0 litre W16 quad-turbo engine is rumoured to produce around 1500 BHP (1100kW).
To satisfy the ‘fastest’ part of Mr Dürheimer’s promise, the Chiron will need to be touching two seconds for the 0-100km/h time, and be capable of a top speed around 450km/h.
The lack of details hasn’t stopped potential buyers from parting with their money, with Bugatti confirming that more than 100 orders have already been received.
These buyers and others were given a sneak preview last month, with Bugatti releasing a teaser sketch of the styling lines for the Chiron.
Expect more details to emerge ahead of the 2016 Bugatti Chiron’s appearance at the Geneva Motor Show - stay tuned.
MORE: Bugatti Chiron Teased To Prospective Buyers In New Sketch
MORE News & Reviews: Bugatti | Chiron | Hypercars