The N.T07 will be built by Tatuus, which builds the Formula Renault series cars, and will be powered by a 2-liter, four-cylinder engine putting out 250 hp. The car will apparently also be fitted with a "hybrid engine system," although no details are available at present.
The race series will run in conjunction with the European rounds of the World Touring Car Championship. N.technology is currently running an Alfa Romeo team in the 2006 WTCC.
Given the short timeframe to design and build a grid full of brand new racecars for the 2007 season, it seems likely that the N.T07 will be a modification of Tatuus' current Formula Renault 2000 (shown at right), which closely resembles the N.T07 sketch.
[Source: N.technology via Gizmag]