Caterham has just pulled the cover off of its latest creation, the 620R, which is being hailed as the replacement to the all-powerful R500 version. The brand new track-ready vehicle is actually set to make its first public appearance at the 2013 Goodwood Festival of Speed this upcoming weekend, but it sure was nice of them to give us this preview. The 620R features a gunmetal chassis, a race-tuned cooling system, a new nose that will improve air flow, a new De Dion rear suspension system, and – rounding out the exterior – 13-inch alloy wheels covered in Avon ZZR tires. Inside the open top cabin, you’ll find a pair of racing seats, carbon fiber interior panels, and a Q/R racing steering wheel. The 620R will be carried around the track with a 2.0-liter Duratec engine made by Ford that is capable of producing 311 HP, a peak torque of 219 lb-ft, and a 0-60mph time of just 2.79 seconds. More details are sure to come this weekend, but we do know that it is slated to go on sale later this year with a price of 58,000 Euros (~$74,600 USD).