Leave it to the Australians to show us how racing ought to be done: with big V8s. Where racing series in other parts of the world keep switching to smaller and smaller engines, the Aussies still run their V8 Supercars series with big engines (at least for the time being), and will soon see the return of Formula 5000.

For those unfamiliar, the original Formula 5000 was run in the 1960s and ’70s as a way to get retired open-wheel racing cars back out on the track. It was so named because it allowed engines up to 5.0 liters (or 5000 cc), and ran in various forms in North America, Europe, and Down Under.

Called Formula Thunder 5000, the proposed revival will be based on a new chassis and run exclusively in Australia and New Zealand. The new car is based on a chassis originally designed by California-based Swift Engineering for use in Japan’s Formula Nippon series, but has been extensively modified.

At its heard sits Ford’s modular Coyote V8 – based on the same block as you’d find in a Mustang, F-150, or Falcon, but developed by Australia’s InnoV8 Race Engines. From there a large portion of the key components (including the gearbox and suspension) are supplied by Australian manufacturers.

As Motorsport.com reports, the car just made its first track test, with Australian Formula 3 Champion Tim Macrow behind the wheel. It’s set to run in public for the first time later this month during the Muscle Car Masters at Sydney Motorsport Park, but you can check it out in the photos below and listen to its roar in the (unfortunately low-def) video at bottom.

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