A shadowy image released by the German marque depicts an aggressive-looking vehicle with slim LED headlights and a roof scoop, looking very much like a road-going Le Mans racer.
Mercedes-AMG has already confirmed the Project One will bring "fully-fledged Formula One hybrid technology to the road", marrying a 1.6-litre turbocharged six-cylinder engine to four electric motors. Over 1000hp (745kW) is claimed, as is a top speed "exceeding 350km/h".
Just 275 examples of the Project One will be produced, with each going for around $2 million - and nine are heading for Australia and one for New Zealand.
Speaking with CarAdvice in May, Tobias Moers, boss of Mercedes-AMG, said the company's aim is not to build the world's fastest production car, but to set a "benchmark" for high-performance and energy-efficient vehicles.
In addition to the 745kW power output and 350+km/h top speed, the company claims the Project will feature an all-electric range of 25km.
Stay tuned to CarAdvice for our coverage of the 2017 Frankfurt motor show.