Koenigsegg's Swedish Bugatti beater

Koenigsegg plans to make the record attempt this year using its new CCX supercar in front of official observers at a venue probably located in the USA.

Bugatti has already claimed its 736kW Veyron 16.4 is capable of 407km/h, but according to Koenigsegg technical director Jon Gunner that is yet to be verified.

"Bugatti says it can do 400km/h but I don't believe that was achieved with the standard car," he said.

"We already hold the record of 388km/h, and that's what is officially in the Guinness Book of Records."

The current record, set by the Koenigsegg CCR last year, was achieved at the Nardo high speed test circuit in the south of Italy last year and eclipsed the McLaren F1's previous record of 386.7 km/h set in 1998.

The speeds may seem mind-boggling, but are far from the end of the story. Bugatti has said that the Veyron is capable of at least 430km/h but is electronically limited to 407km/h because of its tyres.

The CCX  is a modified version of that car designed for release in the United States this year. It has refined aerodynamics and bumpers designed to pass crash tests at the much lower speed of 4km/h.

The stunning, swing-door supercar is powered by a 4.7-litre V8 of the company's own design and manufacture. Boosted by two Rotrex superchargers, it develops 601kW of power at 6900rpm, and 920Nm of torque at 5700rpm.

Although substantially less powerful than the Veyron, the CCX has the advantage of being made almost entirely of carbon fibre and is at least 600kg lighter than the Bugatti with a dry weight of just 1180kg.

Performance claims for the CCX are of an entirely believable 0-100km/h in 3.2 seconds, and the standing quarter mile (402 metres) is demolished in 9.9 seconds.

Top speed is quoted at "395+ km/h" and it is this that Koenigsegg hopes to verify – and beat.

The only problem so far is finding a venue for the speed record and according to Gunner that is probably not going to be possible in Europe.

Nardo, he says, is too bumpy and the only straight piece of smooth track long enough is the nine kilometres of tarmac at Volkswagen's Ehra test facility at Wolfsburg in Germany where the McLaren F1 achieved its record.

The only problem there is that Volkswagen also owns Bugatti.

The company is therefore searching for a suitable venue in the United States, which would also tie in nicely with the car's American launch.

Koenigsegg was founded in 1994 by Sweden's Christian von Koenigsegg, then aged only 22, and delivered its first car, the CC8S, at the 2002 Geneva motor show.