Ginetta, the car company based in the suburb of Garforth, has announced plans for a six-litre V8 model to be built in 2020.
It is expected to rival models by big-name manufacturers Porsche, based in Stuttgart, and Ferrari, from the Italian town of Maranello.
The name has not yet been announced and the price is not yet known but it is expected to be around the £400,000 mark.
Only 20 cars will be built in the first year but already 60 per cent have been bought.
Ginetta, best known for racing cars, says its heritage in high-power, low-weight road cars has allowed the creation of a “driver-orientated yet usable package”.
Chairman Lawrence Tomlinson said: “Racing at the highest level has taught us that to win you have to have your overall car concept and every detail exactly right, and we’ve brought that same philosophy to our first supercar.
“Starting with a blank sheet of paper allowed us to create a true mid-mid engine design with an all carbon monocoque, LMP-derived aerodynamics and an in-house designed powertrain resulting in a driver-orientated package for the road.”
Given the low volume of production, Ginetta was not compromised by having to use an existing chassis or drivetrain, allowing the engineers to optimise every aspect of the car.
The engine is an ultra compact and lightweight unit mounted much further back than in conventional supercars.
The 600bhp engine is built inhouse and the car uses a full carbon fibre monocoque chassis and carbon fibre body panels to keep the weight down.
Performance figures have not yet been revealed but critics say it will compete against the likes of the £271,000 Lamborghini Aventador, £263,000 Ferrari 812.
Mr Tomlinson added: “I have felt for a long time there was a gap in the market at around the £400,000 price point for a genuinely low production number supercar, with proper craftsmanship and true race derived know-how and technology.”
Ginetta was founded in 1958 and is best known for its hand built road and race cars. The marque was acquired by Le Mans winner and entrepreneur Mr Tomlinson in 2005 and the company is now known globally for its motorsport activities. In 2007 the firm moved to a state-of-the-art factory in Garforth.