Mercedes-Benz has turned Formula One into a stock car racing series.

The automaker has unveiled the Mercedes-AMG ONE, a supercar powered by a street-legal version of the engine used in its championship-winning F1 cars.

Mercedes-AMG is Mercedes-Benz's performance and racing division.

The two-seat coupe features a 1.6-liter V6 with an electric motor-assisted turbo mounted amidships.

AMG ONE front

Only 275 Mercedes-AMG ONE cars will be built. (Mercedes-Benz)

It also has another electric motor between the engine and a 7-speed transmission, and two more powering the front wheels.

Mercedes-AMG ONE

The Mercedes-AMG One features a carbon fiber monocoque chassis and suspension. (Mercedes-Benz)

The combined output of the powertrain is 1,049 hp, making it the most powerful Mercedes-Benz of all time and more powerful than the actual F1 car.

Mercedes-AMG ONE on track

The ONE was designed for track driving. (Mercedes-Benz)

The turbo's electric motor alone is rated at 221 hp and helps spin it up to reduce lag as the exhaust pressure builds.

Mercedez-AMG ONE engine

The turbocharged 1.6-liter V6 is derived from the Mercedes-AMG Formula One car. (Mercedes-Benz)

The ONE can accelerate to 186 mph in 15.6 seconds and hit a top speed of 219 mph.

Mercedes-AMG ONE rear

Passengers enter through prototype race car-style doors. (Mercedes-Benz)

Active aerodynamics including a deployable rear wing and gill-like vents on top of the fenders are engineered to increase downforce for better handling at high speeds on a track.

Mercedes-AMG ONE cabin

The minimalist cabin features a rectangular steering wheel and dual digital displays. (Mercedes-Benz)

The car is also capable of driving short distances in a hybrid mode that uses only the front motors until more power is needed, a which point the engine fires up, with the result being a top fuel economy rating of 27 mpg on the European test cycle.

And it won't be getting an EPA rating, because it's not street legal in the U.S. Mercedes-Benz said that "in order to preserve the unique character of its Formula 1 powertrain, we have concluded that meeting U.S. road standards would significantly compromise its performance and its overall driving character."

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Mercedes-AMG will only sell 275 examples of the ONE at $2.7 million each, but don't get out your checkbook, because they are all already sold out.