Vehicles | May 17, 2019 2:26 pm

Hypercar Maker Koenigsegg to Release “Much Cheaper” Model in 2020

It will reportedly cost under $1 million and feature electrification

Hypercar Maker Koenigsegg to Build Much Cheaper Supercar in 2020
Can't afford the $2.8M Koenigsegg Jesko? They're building a "much cheaper" supercar.

Last time we checked in with automaker Koenigsegg, they were upping the ante on their worldbeating hypercars with something called a “megacar.” Now the company is changing tack again, this time opening up their cars to a wider swath of buyers with their most affordable model to date — relatively speaking.

“A much cheaper and higher-volume new model” will be revealed in 2020 with production commencing not long after, writes Autocar after speaking with CEO Christian von Koenigsegg. Not many other details of the production were offered, except that the “plan is to build and sell a new supercar at a price of £700,000 to £800,000 [$891K to a little over $1M], less than half that of the firm’s current cheapest model, the Regera.”

Even if you can afford that, don’t expect to see a Koenigsegg dealership opening up on a stretch of highway near you. The company only produced 18 cars in 2018 according to Autocar, and the increase in volume will likely only reach three figures in the near future.

Why the change of heart? Apparently, Koenigsegg is experiencing a growth spurt thanks to an investment of roughly $165M from Chinese-owned firm New Electric Vehicle Sweden, which now owns a 20% stake in the marque’s parent company.

As for specs, we’ll have to wait and see. But Autocar says that the marque’s twin-turbo 5.0-liter V8 will power it, along with “some form of electrification.”

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