[UPDATE] In an interview with Motor1.com France, Bugatti president Stephan Winkelmann announced production of the Chiron Super Sport 300+ will start in 2021. Unlike the 304-mph prototype, customer cars will be electronically limited to 440 kph (273.4 mph).

We knew it was coming, and now it’s officially official. Last night during the gala dinner part of the Grand Tour organized to celebrate 110 years of Bugatti, company boss Stephan Winkelmann made the big reveal at home in Molsheim. What you see is here is the already famous prototype that did 304.773 mph, but a small batch of production cars is planned for deep-pocketed customers.

Price? That would have to be a cool 3.5 million euros (or £3.17M at current exchange rates) before taxes. Despite the exorbitant price tag, one of the 30 cars planned for production was bought on the spot last night. According to our colleagues at Motor1.com France who were among the very few journalists invited, the wealthy individual signed the papers right on the prototype, so only 29 cars are now up for grabs.

Gallery: Bugatti Chiron Super Sport 300+ photos live

Officially called the Bugatti Chiron Super Sport 300+, the hypercar is going to boast a quad-turbo 8.0-litre W16 engine with 1,578 bhp as seen in the Centodieci. In other words, Hennessey was wrong assuming the prototype had close to 2,000 bhp. To unlock those extra miles per hour over the electronically limited 261-mph standard Chiron, the SS variant will have a reworked body with improved aero, including a modified derrière that earned the prototype the “Longtail” nickname.

Other technical specifications disclosed last night by Bugatti’s head honcho included the magnesium wheels and the naked carbon fibre bodywork. The prototype’s orange accents akin to the Veyron Super Sport and its limited-run World Record Edition won’t be mandatory on the remaining 29 production cars. The Chiron used for the record run that took place at the Volkswagen Group’s Ehra-Lessien had only one seat and a roll cage, but the road-going Super Sport 300+ will have a passenger seat.

Gallery: Bugatti Chiron Sport built for top speed run

It looks like we will have to wait a little bit more for full details and images of the mighty Chiron, but at least we know for sure the Super Sport 300+ is actually coming. Unlike that modified Ford GT that hit 300.4 mph (483.4 kph) earlier this year at the Texas Mile event, the SS will be a production car, so there shouldn’t be any controversy regarding who’s the speed king. It’s especially true since the Chiron was even faster than the 2,000-bhp GT.

With Bugatti retiring from chasing speed records while Koenigsegg, Hennessey, and SSC North America are all gunning to hit the 300-mph mark, the Chiron Super Sport 300+’s title for the fastest production car is already in jeopardy.