Step aside Veyron, your big brother has arrived. Bugatti at an exclusive party in Geneva on Monday unveiled Chiron, the world's most powerful and fastest sports car, reports Bloomberg. Costing a whopping $2.61 million, it roars a humongous 1500 bhp engine, 25 percent more power than the Veyron that can do 0-100km/h in under 2.5 seconds, with a 'limited' top speed of 261mph. Although, the top speed on the dashboard is listed at 311 mph.

Don't expect much on the fuel economy front with the car sporting a mammoth 8-liter, 16-cylinder engine with four turbochargers.

Dürheimer further added that, "The Chiron is the quintessential ultimate super sports car: ultra-modern, incredibly fast, agile and powerful with a stylistically demanding design and the highest possible levels of comfort." reports AFP.

Here are the highlights of Bugatti Chiron:

Horsepower: 1500 bhp

0-100km/h: Under 2.5 secs

0-300km/h: Just over 13 secs

Top Speed: 261 mph

Weight: 1995 kgs

Cost: $2.6 Million