It's the Red Bull X1. It was designed by Adrian Newey for GT5, under the restrictions "there are no restrictions". So he built a ground-effect, gas-turbine car. Lap times are approximately 1m04s around both Suzuka and the Nurburgring.
Unfortunately the model above is just a shell, it's not a driveable car. A driveable car hasn't ever yet been produced, everything so far is just concept and simulation.
The idea was bandied around some time ago that there was room for an X1 pilot series, the format being time-trial only though. You simply could not race these things - the slighest bump or aero disturbance and they're off in the gravel, and it would rarely stop there. Ripplestrips become ice. But yeah, the idea was that maybe four to six manufacturers would develop their own car based on these rules ("no rules"), and drivers would get two two-lap sprints.
Ultimately it never went ahead for two reasons - and cost surprisingly wasn't one of them:
- Safety of track marshalls - because debris flying at someone at 500km/h wasn't seen as ideal and
- Safety of drivers - because in order to achieve >500km/h on straights and 300km/h through corners, the manufacturing issues with the car essentialy meant manufacturers would be sacrificing driver safety in things like impact damnpening - it was all but gauranteed that any crash would mean the death of the pilot.
[video=youtube;dmtehAZVDUY]http://www.youtube.com/watch?v=dmtehAZVDUY&t=180[/video]
Skip to 3:00 for race run.