Shelby SuperCars (SSC) North America has set a brand new top speed record for a production car, with the SSC Tuatara hypercar setting a v-max of 331 MPH (533 KM/H) on a stretch of road at Nevada, USA called State Route 160 between Las Vegas and Pahrump on October 10, according to BBC's TopGear.

The SSC Tuatara dethroned the Bugatti Chiron's previous v-max record of 305 MPH, even going on to set an official record time for fastest production car by setting an average speed of 316 MPH in two directions.

To set an official "fastest production car" record, the car is required to drive the same stretch of road in two directions, with the average speed of the two runs being recognised as the official record. While the French Bugatti Chiron was the first production car to go beyond the elusive 300 MPH mark, the hypercar was unable to repeat the performance on a second run in the opposite direction.

The Tuatara, driven by British racing driver Oliver Webb, set a v-max of 301.07 MPH (484 KM/H) on its first run, but on the second run it managed a top speed of 331.15 MPH (533 KM/H), with the average coming to 316.11 MPH, thus taking the official title of "fastest production vehicle" that was previously held by Swedish supercar manufacturer Koenigsegg, with their Agera RS posting 284.55 MPH.

Built in Richlands, Washington, USA, the 1,247kg SCC Tuatara hypercar is powered by a twin-turbocharged 5.9-litre flat-plane crank V8 producing 1,750 horsepower and features carbon fibre bodywork and state-of-the-art aerodynamics that give it a drag coefficient of 0.279cd.

This isn't SSC's first outing when it comes to setting top speed records -- in 2007, the SSC Ultimate Aero took the title from the Bugatti Veyron with a record of 255 MPH, a feat that was validated by the Guinness World Records.

"Its (Tuatara) performance reflects the dedication and focus with which we pursued this achievement," Jerod Shelby, CEO of SSC, told BBC's TopGear.

"We came pretty close to meeting the theoretical numbers, which is astonishing to do in a real world setting on a public road. America's new claim to victory in the 'land-based space race' is going to be tough to beat," he added.