Los Angeles-based Galpin Auto Sports recently unveiled their $1 million concept Ford GTR1 supercar.

Inspired by the short-lived Ford GT, produced from 2004 through 2006 as an ode to the GT40 racers of the ’60s, Galpin Auto Sports president Beau Boeckmann tapped the creative talents of a Doug Breuninger as designer for what he envisioned could be the next GT car. “The concept behind it was to interpret what the Ford GT would like if it had continued. This an American super car through and through,” said Boeckmann.

Starting with the 2005 model, Breuninge re-imagined the vehicle to what we see here — a heftier version featuring 20-inch forged aluminum alloy wheels and a carbon fiber/aluminum exterior. Under the hood, the GTR1 boasts a massive twin-turbocharged V8 engine, capable of 1,024 horsepower, acceleration from 0 to 60 mph in just three seconds, and a top speed of 225 mph.

It’s the first coach-built car to be produced by the 60-year-old Galpin Ford, based in Los Angeles area city of Van Nuys.

The Ford GTR1 will launch with an initial run of six cars, before finishing off with 24 builds in all. The price: $1 million.