Swedish supercar manufacturer Koenigsegg is reportedly working on a new, high-performance four-door sedan to rival other super-saloons like the upcoming Porsche Panamera and Aston Martin Rapide. While there’s been no official confirmation, a Koenigsegg manager in the Middle East has hinted that the car could feature a 700hp (522kW) V8 engine and could be on sale by 2011.

Supposedly in development for two years, engineers are said to be at the clay-modeling stage and currently looking for further investment to get the project to the production stage. Speaking with CAR Middle East, Koenigsegg’s Dubai manager, Andreas Petre, said the car would weigh less than any performance sedan currently on the market and would be able to reach speeds in excess of 350km/h.

The platform and V8 engine will be unique to the new model, although styling will be similar to the current CCX supercar (pictured). Engineers will also borrow the same carbon-fiber construction techniques employed for the supercar.

Despite rumored financial troubles, Petre says that Koenigsegg could build around 70 to 80 sedans per year as well as about 35 CCX supercars. The United States is expected to account for 50% of sales, with Asia taking 30%, and the Middle East 20%.