It's not based after a particular model, although it certainly has resemblance with the Jaguar F1 cars from a decade ago, also due to the colours. It furthermore includes a lot of the features from modern Formula 1 cars, including the sleek sidepods, and a rear wing without the bottom layer. Other details are an antenna, vertical sidepod airflow conditioners, wings with multiple layers, skid plate, some diffuser elements, and of course a pair of side mirrors.
It was quite a challenge to stick to the inventory of this set. The Mini is square overall and uses a limited amount of shape elements in dark green. Only one type of positive and negative slope comes with the set in dark green, and only in very limited numbers. Another problem with F1 cars is that they are highly curved and aerodynamic, but curved elements are also limited in the set to just a few and low in numbers. Wedges are non existant in the set at all, not even in other colours. This meant that all shape elements had to be used optimally to create a convincing shape. You can decide if the parts are used effectively and are successfully integrated in the end result.