Among the changes to the V10 engine are custom pistons and cylinder sleeves, twin turbochargers, new high-speed gear set and a new engine management system.
Freeman believes the car is capable of around 400km/h, almost 100km/h faster than the standard Superleggera.
He says the reworked engine is producing around 1100kW at the rear wheels, enough oomph to touch on 300km/h before running out of room on the home straight at Hampton Downs. "The build is fantastic and the car still retains the qualities of a standard Lamborghini," he said.
"It is running superbly on the track and I can't wait to get out there and have a crack at the record."
Freeman, the founder of lifestyle service FreemanX, says his attempt on the record is very much in line with the philosophies underpinning the company - getting the most out of what life has to offer.
"If this attempt plays a small part in inspiring the next wave of Kiwi ambition, I feel that this is equally as rewarding as the record itself."