Sherisse Pham , CNN London Written by

Twenty years after Thrust SSC went supersonic, there's a new kid on the block -- and it wants to claim its crown. The Bloodhound SSC hopes to top Thrust SSC's 763.035 mph world land speed record with an attempt to reach 800 mph in October 2017.

New funding means the Bloodhound project -- which was shown in London last September -- can complete the car and begin the process of high speed testing in Northern Cape, South Africa in Autumn next year. Before then the Bloodhound SSC will make its first journey in the UK next June, for a 'slow speed' test at 220 mph (354 km/h).

One thousand miles per hour?

From the outside, the Bloodhound is sleek and aerodynamic, stretching 13.5 meters long(44 feet), with a two-meter high tail fin perched at the end for stability as it hurtles forward at high speeds.

And while looks matter, it's really what's on the inside that designers hope will be enough to propel this supersonic car into the history books.

"It's a mixture of jet engine and rocket motor," says project director Richard Noble.

The car houses a Rolls-Royce EJ200 jet engine, and a supercharged Jaguar V8 engine driving a pump for the Nammo rocket motor built by the Royal Space Agency. A team of Formula 1 and aerospace experts built the Bloodhound, with help from the British Royal Air Force, and Army engineers.

Bloodhound Supersonic set to steal land-speed record

It has taken eight years of design, research and manufacturing to build, all in an attempt