MG Sport & Racing has announced the sales launch of the MG XPower SV, a car which it says, “catapults the Company into competition with the best of the world's performance vehicle manufacturers”.

The entry level model is powered by a 320 hp 4.6 litre all aluminium quad cam V8 engine which propels the MG XPower SV to 60 mph in 5.3 seconds and on to a top speed of circa 165 mph. Automatic and higher powered SV-R versions will be available next year. Customers can also specify the engine from the 225 mph MG ZT-T Bonneville rated at 765 hp (and beyond if required) which will give top speeds of well over 200 mph and suitably electrifying acceleration.

Designed by a team led by Peter Stevens, whose previous designs have included the McLaren F1, the MG XPower SV is based on a chassis designed along race car principles bonded to a lightweight carbon fibre body with an integral rollover cage.

The chassis and carbon body are both constructed in Italy, where Qvale, the firm that made the car from which the XPower SV is derived, and which Phoenix Venture Holdings acquired, is based. Final vehicle assembly takes place at MG Sport & Racing's newly established HQ at Longbridge, Birmingham.

The MG XPower SV line up starts from £75,000 and will be available through a network of specialist XPower dealerships, or directly from the MG Sport & Racing factory.