Shanghai (ZXZC)- Hongqi, the premium auto brand of FAW Group, will launch its first supercar model, the Hongqi S9, at the end of 2020, which is expected to be priced at over 10 million yuan ($1,429,000), according to Wang Guoqiang, vice president of FAW Group.

The Chinese state-owned automaker offered the first glance of the S9's concept at the 2019 Frankfurt International Auto Show on Sept. 10, 2019.

(Hongqi S9's concept, photo source: FAW Group)

The S9 grabbed the attention of many viewers with its exceptionally streamlined car body, large-sized the aerodynamics package, massive rear spoiler and Hongqi's signature design at the front. In addition, it boasts a great lightweight design by largely using carbon fiber materials.

Hongqi said the S9 is equipped with a V8T engine that pumps out 1,400 horsepower (around 1,030kW). Thanks to the powerful powertrain and outstanding aerodynamics design, the car features a top speed of 400km/h and can sprint from 0 to 100km/h in 1.9 seconds.

Any more information has remained uncovered as the project is panning out in confidence.

FAW Group signed in April a letter of intent with Silk EV, a U.S.-based automotive engineering and design company, to move faster on building a joint venture, which is set to produce Hongqi-branded vehicles of the S-series lineup. The significant model will be put into mass production in Changchun, while the design work will take place in Italy. It is said that the Hongqi S9 would be the first product of the joint venture.

Founded in 2019, Silk EV is an automotive engineering and design company headquartered in New York with operations in Italy, China and the United States. It has partnered with such global auto brands as Bugatti, Pagani, Porsche, Ferrari, and Lotus. It plans to pump RMB10 billion ($1.429 billion) into the project with FAW Group over the next five years.