We reported ex-Fiat boss Frank Stephenson was tasked with a clean-sheet redesign of the upcoming McLaren supercar, codenamed the McLaren P11, just two months ago. Now we are hearing word that the exotic has been totally redesigned and is scheduled for a launch in 2010. Prototypes of the two-seat, mid-engined coupe (and convertible) are in testing as you read this.

Both body styles are reportedly built on a carbon fiber tub with aluminum front and rear subframes. Weight is expected to be less than 3,000 pounds, making it one of the lightest high-performance cars on the road (the current Mercedes-Benz SLR McLaren coupe, more than a bit on the porky side, tips the scales about 750 pounds heavier). Power for the supercar is expected to come from a 550-hp V8 built by famed engine builder Mahle.

Now that the design of the P11 is theoretically set in stone, McLaren needs to find a factory in which to build it. Sites across Europe, including those in Italy, Austria, and Britain, are being considered. Insiders say the factory will announce their manufacturing decision next summer.

[Source: Autocar]