The new model will beat the 431km/h (368mph) top speed of Bugatti's Veyron Super Sport. The Veyron Super Sport lost the title of the world's fastest production car in February to the Hennessey Venom GT.
The two-door model may rely on a 1,500hp, 16-cylinder engine and will probably be limited to about 450 cars, the same as the expiring Veyron.
Bugatti, owned by Volkswagen Group, has developed the blueprint for a 2015 follow-up model to the $1.7 million limited-series Veyron that may sell out this year.
Under VW's reign, the super luxury brand which traces its roots back to Italian-born car designer Ettore Bugatti, started production of the Veyron series in 2005.
Some 430 of the 450 planned models have been sold.
