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This is the AF-8, a car currently being developed by UK-based Arash Motor Co., previously known as Farboud Ltd. If the name sounds familiar it should, this is the same company who started work on the AF-10, a car expected to be released at the end of 2008.

The new car will be smaller than the AF-10 and aims to be ‘driven as an everyday car’ - with conventional doors, traction control, and ABS as standard kit – but we’re told track use is still a high priority.

As with the AF-10, the newcomer will source power from a 7-liter GM V8 generating an estimated 550bhp at 6000rpm. It will be paired to a 6-speed Grazianno Trasmissioni gearbox. Arash claims the car will be able to complete a 0-60mph sprint in 3.4 seconds and reach an estimated top speed of 204mph.

These figures will likely be achieved thanks to a slippery, aerodynamic carbon fiber body (featuring honeycomb and nomex sandwiches claimed to reduce weight and enhance stiffness) built atop a composite steel-carbon chassis - like its larger sibling.

As an 'entry-level' offering to supplement the forthcoming AF-10, the AF-8 is scheduled to be launched in 2010 for approximately £120,000. Arash hopes to produce 25-50 units per year.