If you’ve spent the last decade and a half waiting for McLaren to finally one-up their legendary F1 supercar, your wait is one step closer to ending. McLaren reportedly began testing their new world-beater in Europe and (likely) the Middle East last month, giving us hope the car will make it to the streets by 2014 as expected.

According to Autocar, the new “Big Mac” (they call it the “mega Mac,” but seriously, how could we not name what we expect will be a heart-stopping hypercar after America’s leading cause of cardiac arrest?) will come wearing a £1 million price tag, which works out to around $1.6 million at today’s exchange rates. What’ll that enormous pile of bank notes buy you? Reportedly, a car built around a carbon-fiber monocell, powered by an 800 horsepower, 590 lb-ft 5.0 liter V8 connected to the rear wheels via a seven-speed dual-clutch transmission. It’ll also supposedly get you carbon-ceramic brakes (complete with brake steering function), adaptive dampers, multi-stage traction control system and hydraulic anti-roll control, along with a built-in video camera so you can record your moments of racetrack glory.

If Autocar‘s information is correct, the Big Mac will run from 0-60 in 2.8 seconds, from 0-100 in 5.5 seconds, and from 0-200 in 20 seconds flat. Supposedly, McLaren is shooting to reclaim the glory that the F1 gave them by making the Big Mac capable of outperforming the Veyron, the Porsche 918 Spyder and the Ferrari Enzo’s replacement. It’s not clear whether they’re aiming to rule the roost in acceleration, top speed, track ability or any combination thereof; what is clear is that this decade should be extremely smile-inducing for supercar lovers and lottery winners. [via Autocar]