Its a kit car, and it looks sweet! The chassis costs $90 grand, the engine depends on how much horsepower you want, anywhere from 300 to 700 hp ($7g's to $26g's). Chassis weighs less than 1000 kg. It would have been considered a race car 5 years ago (not unlike bikes), but now it's street legal.
The brits seem to be making a move into the north american market it a big way right now, basically kick-ass supercars for (relatively) cheap.
They are competing to claim the 0-100-0 world record, and apparently these guys have done it, but it seems to be getting broken every other day by more of those crazy brits. Can't wait to see some of these things over here. I still can't believe that it's street legal... I'll believe it when i see one over here.
Check out the videos: