Kunos Simulazioni announced Assetto Corsa Competizione on 21 February 2018 with a planned Steam Early Access release in summer 2018. A 12 September 2018 early access release date and a roadmap with monthly updates until a full release in Q1 2019 was revealed at the Total 24 Hours of Spa 2018 SRO press conference. It was released out of early access on 29 May 2019. On 11 March 2020, publisher 505 Games and Kunos Simulazioni announced ports for PlayStation 4 and Xbox One, which were released on 23 June 2020. Versions for PlayStation 5 and Xbox Series X/S were announced at Gamescom 2021 and released on 24 February 2022.
Development of Assetto Corsa Competizione moved from an in-house developed graphics engine used in the studio's previous title Assetto Corsa to Unreal Engine 4. This change aimed to ensure graphics engine support for night races and realistic weather conditions. At Nvidia's Gamescom 2018 keynote, Assetto Corsa Competizione was announced to be among the first titles to support Nvidia RTX real-time ray tracing and Nvidia Ansel RTX on GeForce 20 series GPUs.
Assetto Corsa Competizione is a racing simulator where players can drive race cars against AI offline or against other players online. It includes offline career, custom championship, custom races and special events gameplay modes. Online multiplayer features session types such as Free Practice, Hot Lap, Superpole, Hot Stint, Quick Race, Sprint Race Weekend, and Endurance Race Weekend. Crossplay is available between PlayStation 5 and Xbox Series X/S.
Assetto Corsa Competizione was playable for the first time at E3 2018 as part of a hot-lap competition hosted at the Thrustmaster booth. During the 2018 Total 24 Hours of Spa weekend, a hot-lap competition was hosted in the Pirelli paddock area, representing the first esports project undertaken by SRO. On 27 March 2019, SRO announced the new SRO E-Sport GT Series in collaboration with Kunos Simulazioni for the 2019 season. Assetto Corsa Competizione also featured as one of four racing titles in the 2019 McLaren Shadow Project Esports competition.
On 30 June 2022, the FIA announced it had chosen Assetto Corsa Competizione as its platform for the 2022 FIA Motorsport Games Esports Cup.
Version 1.1 on 23 October 2019 added new-for-2019 cars and circuits such as the Audi R8 LMS EVO, Lamborghini Huracán GT3 EVO, AMR V8 Vantage GT3, Honda NSX GT3 EVO, Porsche 911 GT3 R (991 II), Circuit Zandvoort, and 2019 versions of Circuit de Spa-Francorchamps, Circuit de Barcelona-Catalunya, and Silverstone Circuit as part of the 2019 Blancpain GT Series season. The McLaren 720S GT3 was also added as part of the 2019 McLaren Shadow Project Esports competition.
The Intercontinental GT Pack downloadable content (DLC) was released on 4 February 2020, adding car liveries and the circuits Bathurst, Laguna Seca, Kyalami, and Suzuka of the 2019 Intercontinental GT Challenge. The Challengers Pack adds 5 new cars to the game, including the Audi R8 LMS GT3 Evo II and BMW M2 CS, and was released on 23 March 2022. The American Track Pack was released on 30 June 2022, featuring Circuit of the Americas, Indianapolis Motor Speedway, and Watkins Glen.
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