It was at the Detroit Motor Show in 2004 that it was presented for the first time as a concept. Everything led to believe that Chrysler was going to produce its first supercar, but in early January 2005, a press release from the company put an end to the project. Chrysler said it would cost hundreds of millions to develop and that this car was seen as a distraction – as the company had just launched the 300 and Magnum. That was the official reason given by the company. However the unofficial version is that the German management of Mercedes-Benz did not appreciate at all the rapid realization of a vehicle capable of beating their jewel, the Mercedes McLaren SLR (NB at this time Mercedes-Benz owned Chrysler).