JOHANNESBURG -- An earthbound jet known as the Bloodhound became one of the world's 10 fastest cars this week, on target for its goal to set a new land speed record.

The Grafton LSR company announced the development in a news release this week. Spokesman Jules Tipler says Bloodhound's next goal is to reach 885 kilometres per hour, possibly in the coming week. Powered by a Rolls-Royce EJ200 jet engine, the car hurtles so fast across the salt pan track that a twin parachute is needed to stop it.

Over the next year, the car aims to break the world land speed record of 1,228 kph. That record was set in 1997.

Ultimately, Bloodhound's jet engine will be boosted by a rocket engine with an aim to safely reach 1,610 kph (1,000 mph).