The Exelero was commissioned by Fulda, a German subsidiary of Goodyear, to test their new Carat Exelero tire range.  The Exelero was the second vehicle to serve as a one-off show car for Fulda's high-performance tire range, the first being the Gemballa Extremo in 1996. In collaboration with Maybach, the initial design of the Exelero was to be influenced by the Maybach SW 38 and built on the platform of the Maybach 57.  Another important design stipulation from Fulda was that the car should be able to reach speeds above 350 km/h (217 mph) so that the physical limits of the Exelero tires could be tested. The final design of the Exelero was produced by four students from the Transportation Design School of Pforzheim University of Applied Sciences.  In 2007, Stola introduced the Phalcon, a 2-door coupe inspired by the Exelero. 
The Exelero is powered by a twin-turbo V12 engine made by the defunct Maybach (now a part of the Mercedes-Benz division of Daimler AG) and mounted at 60º. Each cylinder has 3 valves, and a compression ratio of 9.2:1. The engine produces 700 PS (690 hp; 515 kW) at 5000 rpm and 752 ft-lb (1,020 N⋅m) of torque at 2500 rpm.  It is mated to a 5G-Tronic automatic transmission.
The Exelero has a top speed of 351 km/h (218 mph) and a 0-100 km/h (0-62 mph) acceleration time of 4.4 seconds.
The Exelero has alloy wheels with diameters of 23 inches at the front and the rear. The tires are Fulda Carat Exeleros with codes of 315/25 ZR 23 for both the front and rear.  The brakes are vented discs at the front and rear, and the car comes equipped with ABS.
The main materials used in the construction of the Exelero's interior are dark and red leather, neoprene, polished black carbon fiber, and aluminum accents.  The Exelero has sports seats with red harness-style seatbelts.
The Exelero's exterior is black with a long hood, chrome grill, and fuel lid.