The First Ford GT is Finally Finished…

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Ford Motor Company has started production of its 2017 GT supercar.

The first example of Ford’s next-generation halo car completed assembly earlier this morning at Multimatic Incorporated in Markham, Ontario. Vehicle number one rolled off the factory floor today to go home with Executive Chairman Bill Ford.

“When we kicked off 2016, we had two primary objectives for our Ford GT supercar — to excel at Le Mans, and to start deliveries before year-end,” Raj Nair, executive VP and head of Ford’s product development, said at the event. “We’ve achieved both.”

Ford has taken a Ferrari-like approach to the application process, aiming to limit ownership to Ford loyalists and ensure the new cars won’t be immediately flipped for profit. The company has informed applicants that they may only purchase a new GT if they “agree to retain ownership for a minimum of 24 months after delivery and not to re-sell the vehicle within this period of time.”

Ford limited production to a scant 250 units a year, despite receiving thousands of applications for the initial run. With the first 500 spoken for, Ford says it will extend production through the 2020 model year. The next ordering window won’t open until early 2018.

The 2017 Ford GT is powered by a 3.5-liter twin-turbocharged V6, which is claimed to make over 600 horsepower. The engine makes use of direct dual fuel injection and an extremely low-friction valvetrain. Ontario’s Multimatic, which also produced the De Macross GT1, is building the cars largely by hand. Starting price for the GT tops $400,000.

Surreptitiously developed in a basement design studio by a small team, the prototype GT was a massive hit in 2015. A lightly modified version won this year’s 24 Hours of Le Mans on the 50th anniversary of Ford’s first victory. The GT40, which serves as the inspiration for the modern GT, dominated the French endurance circuit from 1966 to 1969.

This story originally appeared on The Truth About Cars