Le Mans Hypercars Confirmed: FIA and ACO Agree New Rules for 2020

Yep, I think the Overbeeke stuff (which predates this actual suggested series by a couple years at least?) were more or less what everyone was hoping the end product would look like.
 
The complication of course is that a road-car based class will have to do some bizarre things to beat an LMP2 car at LeMans and remain the premier class.
Not necessarily. Super GT cars are already roughly equal to LMP2, if not faster, while looking very much like road cars (what's underneath the surface is another thing) and they don't even have any kind of a hybrid system yet. Drop the LMP1 electronics into one of those and it will be blindingly fast for a car that still looks relatively normal.
 
Peugeot now wants in on the fun too: https://www.topgear.com/car-news/motorsport/peugeot-readying-new-hypercar-le-mans

Wonder what kind of hypercar they'll make. Will it be based on the Vision GT (we have 2 models, the original and the L500R/L750R) or something else entirely?

I could see them going more towards the prototype route rather than the road-based route and have a package with VGT-inspired headlights. Whatever way they do this I just hope it’s called the 909.
 
I have a feeling that a lot of these 2020 LM Hyper cars will adopt the Mid engine layout. The regulations appear to be rather flexible and one that hopefully wont punish the unorthodox; that being said I would love to see some manufactures adopt front engine layouts and be competitive! Showing us exactly why this formula is superior in terms of variety and interest.
 
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