MG has revealed its new high performance sports car named the MG XPower SV. Following development of the original X80 concept, the MG has been radically evolved, is lighter and has increased levels of power with up to 965bhp.

All models will be marketed under the MG Sport & Racing XPower brand.

The exterior styling of the two-seater MG sports car owes much to the demands of airflow management required for competition cars.

These elements give the car an aggressive and overtly sporting stance. Targeted at the premier driving enthusiast, the new MG XPower SV will become the icon of the MG brand with opportunity for both road and track exploitation.

Peter Stevens, MG Rover Group's renowned product design director, previously with McLaren, Lamborghini and Lotus, has been appointed managing director of a new company specially formed to produce the MG XPower SV.

He said: "The MG XPower SV is a car with appeal to passionate sports car drivers who will relish its race-track performance characteristics. "MG is all about having fun, extending the boundaries of excitement and generating visual entertainment for a wider audience. The MG XPower SV delivers this objective in a forceful manner, demonstrating the immense potential for MG."

The MG XPower SV range starts with a car powered by a 326bhp 4.6-litre quad-cam V8 engine, which will provide approximate performance figures of 0-62mph in five seconds and a top speed of around 170mph.

MG XPower SV UK prices will start at £65,000.