The car to be known in its final development stages as the W427 is finished in the same Panorama Silver paint scheme as the original Group A SS VL Commodore, released 20 years ago.

HSV Managing Director, Scott Grant, said the W427 was a tribute to how far the company has come in just twenty years.

To be able to produce a vehicle of these proportions is truly remarkable, Scott Grant said.

The W427 will be quite possibly the fastest road ready super car ever produced in Australia and among the quickest anywhere around the world, he said.

While power output figures are still to be confirmed, the W427 is likely to produce in excess of 370 kW of power and 640 Nm of torque.

It will also be one of the safest cars HSV has ever put on the road, Scott Grant said.

A new six piston front braking system will provide a 50% increase in pad area, while the W427 also receives a revised ESP calibration, six air bags, improved handling and new Magnetic Ride Control settings.

The W427 receives a bimodal active exhaust system to improve noise quality and back pressure management.

Styling and design highlights include an all new front fascia, a three piece carbon fibre rear spoiler, 20 inch machined faced alloy wheel, unique exhaust tips and red leather interior.

Scott Grant said HSV would be introducing a unique customer relations programme to accompany the launch of the new vehicle.

"The W427 will only be produced in limited numbers and we want to reflect that exclusivity in how we connect with our Super car customers", Scott Grant said.

"This programme will see the LS7 engine being fitted at Clayton, along with the dry sump system and a range of other engineering features. We are looking at opportunities to allow owners to visit HSV and view the unique manufacturing process that goes into building this car."

The W427 will go into production in the middle of the year and will be available for sale in dealerships in the third quarter of 2008.

Make no mistake, while the specifications of the car unveiled in Melbourne may change slightly between now and when production begins, this car is destined to make as big an impact as the original Walkinshaw did some twenty years ago.

W427 key highlights*

Exterior
All new Front Fascia exclusive to W427
All new three piece rear spoiler in carbon fibre
All new 20 inch wheel

Interior
HSV performance seats in full red hot trim with W427 logo, steering wheel, gear shifter and console lid in full red hot leather

Powertrain
7.0 Litre, LS7 Engine with HSV specific calibration
370 kW @ 6,500 rpm
640 Nm @ 5,000 rpm
Over radiator style cold air induction system with high flow air filter
Dry sump lubrication system with 2 stage pump
Hand fabricated aluminium oil reservoir, with internal baffles for high G loading
Front mount, 13 row engine oil cooler
Ceramic coated, high flow four into one extractors
High flow catalytic converters and exhaust system (3 into 2¾)
Active bi-modal rear mufflers for exhaust back pressure management to improve noise quality
High strength limited slip differential
New high strength six speed manual gear box (TR6060)
GMPT LS7 Clutch with new actuator and pedal assembly for high clamp loads

Suspension
New springs, 30% stiffer than GTS
Revised ride height 20 mm lower than GTS
New stiffer rear suspension bushing
All new MRC calibration

Brakes
New 6 piston front braking system (50% increase in pad area)
Strap drive, 2 piece floating front rotors (380 x 35 mm compared to 365 x 32 mm one piece on GTS)
High friction pad material