It’s official, the 2014 World Endurance Championship is upon us. Toyota has just revealed its TS040 Hybrid LMP1 – the third and final car destined for the WEC’s highest level of competition.

The TS040 Hybrid picks up where last year’s TS030 put down. Toyota introduced a new all-wheel-drive hybrid system for 2014 that makes use of an AISIN motor-generator attached to the front axle and a DENSO unit attached to the rear. Both motors will be used to harvest energy from deceleration, but more importantly are capable of outputting 473-horsepower to all four wheels. The hybrid system complements Toyota’s newly designed 513-horsepower 3.7L gas V8, which will direct power to the rear wheels.

All totaled, the new car outputs just shy of 1,000hp. Though none of that muscle will do any good if the TS040 drinks through fuel like a Friday night out. Toyota has reportedly revamped the aerodynamics as well as the gasoline engine to increase fuel efficiency by 25 percent, or so they hope. The stage is set for quite an exciting year, wouldn’t you say? 

RELATED: Check Out Toyota's Shadowy New LMP1 Car (Video)
RELATED: Porsche 919 Debuted at Geneva Motor Show

[via Toyota]