The Bristol Project Pinnacle, a car designed to celebrate the firm's 70th anniversary, will be powered by a BMW powerplant, the manufacturer has announced.
Sources confirmed to Autocar that the car is set for an autumn launch date this year and will cost less than £1 million.
The car, which will be the first new Bristol since 2004, is described by the manufacturer as being "a modern take on the best of British luxury craftsmanship" and is "engineered to excite".
Bristol says the new model will help to re-establish the brand, with millions having been spent on the project since Bristol was bought in 2011. The new car will be made in limited numbers and is described as a "connoisseur's choice".
The company's boss, Julian Ramshaw, said: "Investments in our new products and facilities spearhead our modern philosophy for the Bristol marque.
"We believe that the automotive landscape is changing, particularly in the premium and luxury sector. The definitions of luxury are changing. People’s expectations are changing. And Bristol Cars is changing too. This is just the start, and there is a lot more to come from us.”
Bristol's future plans also include a range-extender electric grand tourer, which is being developed in conjunction with Surrey-based technology group Frazer-Nash Research. Bristol has targeted a top speed of 200mph for the model, as well as urban fuel economy of 100mpg.
"We plan to introduce a uniquely efficient and exciting motor car that will appeal to the upper end of the spectrum," said Ramshaw. "It will utilise technology developed by Frazer-Nash over 25 years which will be combined with the very best of British craftsmanship and engineering."