Jaguar XE: Jaguar working on 503-hp supercar to rival the Audi R8

Word on the street is that Jaguar is working on a new supercar. According to AutoExpress, Jaguar is hard at work on an all-new all-aluminum, 503-hp speedster called the XE. The car will become Jaguar’s new halo car with a 5.0L supercharged¬†from the 2010 XFR.

Jaguar has denied the report but AutoExpress says to keep an eye for the car during an auto show in the next year and a half.

If Jaguar does go through with plans to produce the XE, the supercar will go up against rivals such as the Audi R8.

Source: AutoWeek