Hennessey Performance Engineering (HPE) has announced the Z700, a racetrack-oriented upgrade package based on the most powerful production Corvette, the 638 bhp ZR1.

Hennessey's Z700 performance package upgrades the engine supercharger, exhaust and air induction systems and is dyno tuned to 705 bhp.

Additional modifications include lightweight carbon fiber wheels with Michelin Pilot Sport Cup tires, which reduce rotating weight by nearly 60 lbs.

Z-Aero carbon fiber front splitter, canards and rear spoiler also add over 300 lbs of down force. The revised interior has lightweight carbon fiber seats, Alcantara steering wheel and shift knob.

HPE plans to begin testing the Z700 at the famed Nurburgring in Germany later in 2009. The company will build just 24 copies of this limited edition Corvette ZR1 for the 2010 model year.

Each buyer gets 1-day of performance driving instruction in his or her new Z700 at Hennessey's own private test track, Lonestar Motorsports Park. Lonestar, which is located next to the company's facility, west of Houston, Texas.

The projected price is $204,000.

2010 Hennessey Z700 - Corvette ZR1 Specifications

Power:

• 705 hp @ 6,400 rpm
• 717 lb-ft Torque @ 3,200 rpm
  

Performance:

• 0 – 60 mph: 2.9 seconds
• 0 – 100 mph: 6.4 seconds
• ¼ mile: 10.6 @ 134 mph
• Skid pad: 1.08 lateral G

(Source: Hennessey via Autoblog.com)