A company in New Zealand is developing a V-10-powered track car designed to deliver a driving experience similar to an old-school Formula 1 car.

The company is Rodin, which has ambitions to launch its own F1 team and on Thursday announced that a prototype for its planned FZero track car has successfully completed a first outing.

The session took place at Rodin’s own test track located at the company’s headquarters on New Zealand’s South Island. CEO and founder David Dicker, an amateur racer and class champion of the Ferrari Challenge one-make series, was the first to hop behind the wheel of the single-seater.

Dicker also designed the car’s engine, a twin-turbocharged 4.0-liter V-10 that delivers a peak 1,013 hp. That peak arrives at a screaming 9,500 rpm (with 10,500 rev limit) and only requires 11 psi of boost. A naturally aspirated version of the engine is also being developed, and Rodin is looking to offer them in crate form for use in motorsports.

In the Fzero, the engine is paired with an 8-speed sequential transmission developed with Ricardo, and can power the car to a top speed of 223 mph. The transmission features a 3D-printed titanium case that helps reduce weight while improving strength and rigidity. The FZero also has a carbon-fiber chassis, helping to bring the curb weight down further.

Rodin on its website claims the Fzero will also feature a mild-hybrid system that can add 174 hp, though it isn’t clear whether this system was featured on the prototype.

Like any self-respecting track car, the Fzero also emphasizes aerodynamics. Rodin claims the Fzero can generate up to 8,818 lb of downforce, although the company didn’t say how fast you’d have to go to achieve that.

Braking is handled by carbon-ceramic rotors with titanium calipers (six-piston front, four-piston rear). The brakes reside within 18-inch OZ forged magnesium wheels with Avon racing slicks. Customers not used to driving on slicks should note that ABS and traction control is included as well.

Rodin has previously said it plans to build just 27 examples. A price tag hasn’t been disclosed but will likely run into the seven figures, given the car’s intended competition which includes the Aston Martin Valkyrie AMR Pro and GMA T.50s Niki Lauda.

The Fzero isn’t Rodin’s first product. The company in 2019 launched the Fzed, a formula-style track car born out of Lotus’ stillborn Exos Type 125 project.