Step aside, LaFerrari. A new hybrid supercar is about to be released.

McLaren’s latest, the P1 GTR, has Ferrari beat (at least in the specs) and is now production-ready.

As it is, the $1.69 million Ferrari is already wild enough, boasting 963 horsepower from its hybrid 6.3-liter V12 and 163-horsepower electric motor.

McLaren P1 GTR in final production form.

McLaren P1 GTR in final production form.

But the gasoline engine powering the McLaren is both smaller and meaner: this 3.8-liter twin-turbo V8 is rated at 789 horsepower. Combining that with a 197-horsepower electric motor creates a supercar capable of 985 horsepower overall.

Don’t anticipate any street videos pitting a LaFerrari against a P1 GTR, however. This McLaren is only allowed on the racetrack.

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Even before an owner can put in a few hot laps, attending the McLaren P1 Driver Programme is mandatory. Test sessions will begin in Silverstone, England, and include a customized seat fitting, a performance assessment, education on the car’s design and practice in a simulator. Only after completing this training will McLaren allow owners to get behind the wheel of a real P1 GTR. Spain’s Circuit de Catalunya, a track known for its challenging mix of straight and curved sections, has been selected for on-track driving.

After traveling around the globe and enduring numerous drive tests, McLaren said that the final design on the P1 GTR has been slightly modified. From the concept that debuted at the Pebble Beach Concours d’Elegance to the current design, engineers made minor changes to “optimize aerodynamic performance and cooling,” said McLaren. The production version of the P1 GTR will be on display in Geneva next month.

The color has also changed from the previously-showcased sheer black to a yellow and green scheme that pays tribute to McLaren F1 GTR chassis #06R. Badging on the doors and hood give a nod to the #51 racecar. Under Harrods and Mach One Racing, #51 ran a strong campaign in the mid-nineties, winning the 24 Hours of Le Mans and BPR Championship races.

McLaren P1 GTR (2 cropped)

For McLaren-enthusiasts that want to be street legal, they’ll have to step down to the P1. It isn’t quite as powerful, but the specs are still nothing to mock. The P1’s hybrid electric motor and gasoline-powered twin-turbo V8 are rated at 903 horsepower overall.

“This is about as close as you’re going to get to Formula One performance on the road,” said McLaren’s Chris Goodwin of the P1.

Though the P1 GTR looks similar to its smaller sibling, McLaren assures that the differences are significant. To retain true track-worthy performance, the P1 GTR sports a higher, fixed-height wing, a wider front track, a lower center of gravity and a more aggressive aero package.

The racecar is also 50 kg (110.2 pounds) lighter than the P1, thanks to polycarbonate side windows and the removal of powertrain features necessary for highway travel.

“Another bold and differentiating feature at the rear are the large twin exhaust pipes, formed from an Inconel and titanium alloy,” said McLaren. “This system saves in excess of 6.5 kg (4.3 pounds) over the already light road-going system.”

Final pricing hasn’t been announced, but the P1 GTR is expected to cost in the neighborhood of $3.35 million.