It's official — Bugatti will unveil the successor of the Veyron in March 2016 at the Geneva Motor Show, and it's called the Chiron. Before then, some spy shots emerged on the Internet, satisfying the curiosity of eager fans of the vehicle.

The upcoming hypercar is named after Louis Chiron, a renowned factory driver at Bugatti back in the 1920s and 1930s. Design-wise, the 2017 Bugatti Chiron takes a couple of aspects from the Vision Gran Turismo concept, molded into what seems to be an advanced version of the Veyron's shape.

"Bugatti will remain clearly positioned in the future as a brand with a strong profile. We're building the world's fastest, most exclusive, most luxurious and most powerful production super sports car," Wolfgang Dürheimer, Bugatti Automobiles S.A.S. president, says.

Compared with its immediate predecessor, it looks a lot smoother while retaining its iconic horseshoe grille. Aside from sharper headlights, the vehicle will take on huge C-shaped air intakes on its sides. On the back side, it has four exhaust pipes mounted in the middle along with a diffuser and a wing, based on a photo that's believed to have been shot somewhere in Europe.

According to reports, the 2017 Bugatti Chiron will have an updated version of the Veyron's 8.0L W16 with electric turbochargers under its hood, bringing in 1,500 horsepower and 1,107 pound-feet of torque. It's also worth mentioning that it's fitted with extra carbon fiber materials, making it likely to be lighter than the Veyron. With this overall setup, it can go from 0 to 62 mph in a mere 2.3 seconds, peaking at about 270 to 280 mph.

The 2017 Bugatti Chiron is expected to come with a $2.5 million price tag, and the carmaker will allegedly manufacture only 500 units.

Hit up the spy footage uploaded by AUTO BILD TV on YouTube below to see Bugatti's latest work in motion, where it shows a glimpse of the rear and a few more seconds of the front.