Glickenhaus will lose his $1.8M hypercars 003S [UPDATE]

According to reports, the founder and CEO invested more than $20,000,000 in the project.

James Glickenhaus, a well-known Ferrari collector, had hoped to build his own supercar. The SCG003 has made this dream a reality. The 800-horsepower, 596-kilowatt 003S road-going supercar made its debut in Geneva. It will be available for purchase by year’s end.

Only three examples of the 003S are being built at a cost of $1.8million. Driver reports Glickenhaus has invested “more than $20,000,000” in the project. This means that he will lose money on each vehicle he sells.

Prospective buyers will find some interesting options. Each of the three models Glickenhaus will offer to buyers will be created alongside his personal car. Glickenhaus plans to increase production after the four first models have been produced.

In an interview with Car and Driver, he stated that he would sell three of the cars to people who are interested in helping me develop them. “My promise to them is that if they tell me what they don’t like, we’ll fix them together. If I make any changes to my car then I’ll make them to theirs.”

The SCG 003S generates the 800 horsepower (596 kilowatts), and 627 pound feet (850 Newton-meters), of torque courtesy a 4.4-liter biturbo engine. The power is transmitted to the rear wheels via the seven-speed race-spec sequential transmission, and the whole package will weigh in under 3,000 pounds (1.360 kilograms).

SCG claims that the 003S can reach 60 mph (96 km/h) from a standstill in under three seconds. Then it will accelerate to a top speed at 217 mph (349 kmh). Glickenhaus estimates that his creation could beat the Nurburgring lap record in about 20 seconds.

“We won’t lose any SCG003S that we sell. We’ll make a reasonable profit on each car. It will take many cars to recover the development costs. It may not occur. I did not enter into SCG as I thought it would bring in profits.

“I joined for the ride, and it’s been great. Who knows what the future holds? SCG might be something my children and their children will continue to use. This is what I value. Cash has been a constant part of my collecting, racing, designing and engineering cars. You don’t get what you want. It is the Journey that matters. Destinations are everywhere …”