Pagani is an Italian manufacturer of sports cars and carbon fibre components. The company was founded in 1992 by Horacio Pagani and is based in San Cesario sul Panaro, near Modena, Italy. Horacio Pagani, who formerly managed Lamborghini's composites department, founded Pagani Composite Research in 1988. This new company worked with Lamborghini on numerous projects, including the restyling of the 25th Anniversary Countach, the Lamborghini LM002, the Lamborghini P140 design concept, and the Diablo. In the late 1980s, Pagani began designing his own car. In 1991, Pagani established Modena Design to meet the increasing demand for his design, engineering, and prototyping services. In 1992, he began construction of a Fangio F1 prototype, and by 1993, the car was being tested at the Dallara wind tunnel with positive results. In 1994, Mercedes-Benz agreed to supply Pagani with V12 engines. The cost of these cars are at a total of 2.3 million dollars. The final car was named the Zonda C12, the first of the Zonda line. It was first presented at the 1999 Geneva Motor Show. In 2005, Pagani announced that it planned to triple its production output within the next three years, and to enter the US market in 2007. On 30 June 2010, Pagani claimed a new record for production-based cars using the Pagani Zonda R and completing the Nurburgring in 6:47, beating the Ferrari 599XX.