British carmaker Jaguar said on Friday it will build the C-X75 hybrid electric supercar it showed off at last fall's Paris auto show and the price tag is a mere $1.1 million to $1.5 million.

Jaguar, owned by India's Tata Motors, plans to build only 250 of the car, which has top speed in excess of 200 miles per hour. Production and sale are targeted for late 2013.

Production of the four-wheel-drive C-X75 will create more than 100 jobs in Britain, said the company, which added the final production version may be sold under a different name.

It will be developed in association with Formula 1 racing team Williams F1, which will provide its engineering expertise to the project, Jaguar said.

Jaguar said the C-X75 will be its most advanced model, offering speeds on par with the fastest production cars on the market -- 0 to 60 miles per hour in less than 3 seconds.

It will also offer technology that includes a combination of an internal combustion engine and electric motors that offer an all-electric running range of 50 kilometers and very low carbon emissions.

Jaguar said the car, which will include a lightweight, all carbon-fiber chassis, will remain true to the concept car shown in Paris last September that garnered AutoWeek magazine's "best in show" award.

(Reporting by Ben Klayman in Detroit; Editing by Derek Caney)