Rescued luxury car manufacturer Bristol Cars has unveiled its first new model in 14 years.

The British car firm was saved from administration five years ago by technology business Frazer Nash and has now unveiled the new ‘Bullet’ model.

The car has been produced to celebrate the company’s 70 years of existence, with production set to get under way early in 2017 on the car that will cost under £250,000.

In 2004, the company released the two seater ‘Fighter’ model but has since faced financial difficulties that have prevented the release of any new models, until now.

The model is hand-made and will celebrate the 70^th anniversary of the company’s founding. It was developed after a prototype was found hidden beneath a tarpaulin in a factory before the firm went into administration.

Bristol Cars started out life as an aeroplane manufacturer called ‘the Bristol Aeroplane Company’ before it started constructing luxury cars in 1946.

The firm has a single showroom in London and its most renowned models are the Blenheim and the Fighter.

Bosses at the company claim that the Bristol Bullet has a top speed of 155 mph and has a BMW manufactured V8 Hercules engine inside.

The body of the car features carbon fibre composites which give it rigidity and strength while keeping the weight to a minimum.

The dashboard has an embedded touch screen, along with a button that provides direct access to the car firm’s only showroom in Kensington, West London.

Bristol Cars General Manager, Julian Ramshaw, commented: The Bullet celebrates 70 years of design and innovation at Bristol Cars.

“This unique speedster sets the tone for the future of Bristol Cars – with a focus on luxury, performance and elegance.

Meanwhile, Auto Express magazine Deputy Editor, John McIlroy, said: It will split opinion as Bristols always should, because they have never been a mainstream product.

“The styling looks pretty retro with fins above the rear lights, a fairly retro-looking front end with a gaping grille and round headlights, which aren’t exactly the norm in modern vehicles.