Leica already makes one of the most coveted everyday carry cameras in the world, but its latest release takes things into Formula 1 territory. The new Leica Q3 43 Formula 1 Edition brings carbon fiber to the German camera maker’s lineup for the first time, pairing race car-inspired materials with the exceptional photography capabilities of its acclaimed fixed-lens travel camera. At $9,950, it’s an undeniably extravagant piece of gear—but after testing every generation of Leica’s Q-series cameras, I can say this one is something special.

Underneath the Formula 1-inspired upgrades is the familiar Leica Q3 43, featuring a 60.3-megapixel full-frame sensor, a fixed 43mm f/2 lens, and a weather-sealed magnesium alloy body. The special edition adds a carbon fiber wireless-charging handgrip, thumb rest, and shutter-release button, along with tactile Microvelour covering inspired by F1 steering wheels.…