WHAT do you do when making one of the world's most expensive cars isn't enough? You double down.

Bugatti, maker of the €2.4 million ($3.8m) Chiron, has announced that it is building an ultra-exclusive new model at more than twice the price of its current flagship.

The Bugatti Divo is set to be revealed at the end of August.
The Bugatti Divo is set to be revealed at the end of August.

The radical Bugatti Divo hypercar will cost €5m. For an Australian buyer that would come to almost $8m before luxury car tax and GST add a further $3m.

However, even if you can afford the historically high price tag, further exclusivity is guaranteed. Bugatti will build only 40 examples, placing the Divo in the realm of the rarest new cars on the planet.

The Chiron and Divo will share underpinnings but their characters will differ.

Life in the fast lane: The Bugatti Chiron
Life in the fast lane: The Bugatti Chiron

The Chiron was the world's fastest car when it launched - it has since been usurped by the Koenigsegg Agera RS - with a 0-100km/h time of 2.5 seconds and a top speed in excess of 420km/h.

The new Divo will be more agile with an increased focus on driving dynamics. "Happiness is not around the corner. It is the corner. The Divo is made for corners," says Bugatti boss Stephan Winkelmann.

"With the Divo, we want to thrill people throughout the world. With this project, the Bugatti team has an opportunity to interpret the brand DNA in terms of agile, nimble handling in a significantly more performance-oriented way."

Both are powered by an 8.0-litre quad-turbo W16 engine (1100kW/1600Nm) but the Divo will feature a lightweight body and additional aerodynamics.

The Divo's focus on downforce will likely make it slower than the Chiron.

And for those with environmental concerns - look away, the Divo will guzzle fuel at about the same rate as the Chiron's claimed 22.5L/100km.

Bugatti will officially reveal the Divo on August 24 in California.