The investors behind the resurrection of the iconic Lancia Stratos plan to take their new model racing. in the GT2 category. The new Stratos racer would be built to GT2-specification and would feature a range of cosmetic and mechanical upgrades over the already hard-edged road car, which is being limited to just 25 units.

The original Stratos was best known for its rallying exploits, but the car also raced on the track. Turin-based Danisi Engineering will work with Chris Hrabalek and Michael Stoschek, the pair behind the road car's revival, to make the racer a reality.

The model pictured here shows off the styling direction of the new Stratos racer, including substantial aerodynamic changes to increase both downforce and cooling, and a large, fixed rear wing. Mechanical upgrades are unknown; the 2,771lb road car uses a shortened 430 Scuderia chassis and carbon fiber bodywork, with power coming from a 533hp version of the Ferrari's 4.3-liter V8 engine.

The "new" 1970 Lancia Stratos (RIGHT), part-developed by Pininfarina and based on the Ferrari F430 Scuderia is the culmination of a 10-year dream by Stratos enthusiast Hrabalek, now a freelance designer to major car makers, and Stoschek, chairman of family owned German automotive components supplier Brose.

Hrabalek built a modern Stratos concept that was displayed at the Geneva show in 2005, the positive reaction to this spurring him and project shareholder Stoschek into attempting to find a partner that could build the car for limited production.

That initiative eventually faltered, but Pininfarina's recent creation of one-offs for customers enabled Hrabalek to persuade Stoschek that he should do the same, the Italian design house evolving the Hrabalek car and adapting it to receive the running gear of a Ferrari F430 Scuderia.

The Scuderia's chassis is shortened by eight inches in the wheelbase and a roll-cage added to an aluminum substructure that's clad in immaculately patterned exposed-weave carbon fiber. The carbon body, the shortened chassis and various weight savings shed 176lbs compared to the Scuderia, despite the additional roll-cage. The Stratos's power-to-weight ratio is further improved by a modest power increase, taking the total to 533hp. A mechanical diff replaces the Ferrari E-diff, and the suspension has been re-calibrated to suit the altered weight and aerodynamics and Stoschek's desire for sharper handling, while the F430's paddle-shift F1 gearbox is retained.

This Stratos is unquestionably a highly desirable car, but it will also be expensive – Hrabalek reckons around 500-600,000 euro ($650k-$780k), and that price will vary depending on the interest. But for the (very) well-off who remember the Stratos howling through forests more than 30 years ago, it may prove irresistible.

Richard Bremner/Autocar