Jaguar has canned plans to build the C-X75 supercar.
The company's global brand director Adrian Hallmark blamed the current global economic crisis on the decision not to put the radical hybrid car into production.
"We feel we could make the car work, but looking at the global austerity measures in place now, it seems the wrong time to launch an £800,000 (NZ$1.5 million) to £1 million (NZ$1.9m) supercar.
"This is backed up by other products from us that people are screaming out for."
Jaguar will, however, continue to develop five working prototypes through to May, 2013 with three going to auction, one to a Jaguar museum and another being kept for demonstration purposes according to Autocar.co.uk.
The C-X75 was first revealed as a concept at the Paris motor show in 2010 with its hybrid system of two gas turbines to power the car after electric motors mounted at each wheel had run out of charge.
However, by May 2011, when Jaguar said the C-X75 was to be built, the gas turbines were gone - replaced with a turbocharged/supercharged 1.6 litre petrol engine - and there were only two electric motors. It was still quick though with a 0-100 kmh time of 2.8 seconds and a promised 0-160kmh time of less than six seconds.
Hallmark told Autocar that the investment in the C-X75 would not be wasted as 60 per cent of its technology would filter through to future Jaguars.
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