British luxury automaker Jaguar has cancelled plans to build a hybrid supercar, the company said today.

The C-X75 plug-in hybrid supercar was originally set for launch in late 2013, following on from a concept car which used jet turbines as a range-extending powerplant.

According to Autocar, those plans have now been shelved, owing to the current global recession. Global brand director Adrian Hallmark described it as "the wrong time to launch an £800,000 to £1 million [$1.3m-$1.6m] supercar."

Surprisingly, this comment comes at a time when Porsche, Ferrari and McLaren are still developing their own hypercar offerings--of which both the German and Italian cars will use hybrid technology.

The Jaguar C-X75 originally appeared at the 2010 Paris Auto Show with twin jet turbine engines, used as range-extenders in the plug-in hybrid drivetrain.

It was then confirmed for production in 2011, before Jaguar revealed that only a track-based version of the car would use the turbines, and the road variant would use a more conventional four-cylinder turbocharged engine.

The car was said to develop 888 horsepower between its front and rear electric motors, and 590 pounds-feet of torque. All-electric range was expected to be 60 miles.

Jaguar says its development efforts won't be wasted despite the hypercar being axed. 60 percent of the technology will filter down into production Jaguar models, and Hallmark says that the hybrid technology could be used to make a 3-cylinder engine develop the power of a six-cylinder unit.

The cancelled project will also end ties with the Williams Formula One team, who developed the carbon fiber chassis. Jaguar still expects to work with Williams in the future.

Has Jaguar made the right move axing the C-X75, or does the hybrid world need a high-performance figurehead? Leave your thoughts in the comments section below.


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