A small Australian sports car company called Bolwell is planning a return to the sports car market.

Most readers probably aren’t familiar with the Bolwell name, so let us fill you in. The company first started building cars in 1962 and sold roughly 700 units through to 1970. From 1970 until 1974, the company based in Victoria built a sleek sports car dubbed the Nagari. Just over 100 examples are said to have ever been produced with each powered by a Ford V8 engine.

The original Nagari weighed just 920 kg (2028 lbs) and was quite quick for its day.

The Bolwell name soon died out and didn’t re-emerge until a decade ago when the car manufacturer unveiled a modern-day Nagari (pictured). The model wasn’t exactly a success, but the company has just announced that despite this, it is looking to build a third-generation Nagari.

Is this the Australian sports car you’ll actually want?

Car Sales reports that the vehicle has been in development for more than three years. Powering it will allegedly be a mid-mounted Chevrolet LS3 6.2-liter naturally-aspirated V8 engine tuned to deliver 500 hp. This engine will be coupled to a six-speed manual transmission driving the rear wheels. The new Bolwell Nagari will also weigh less than 1000 kg (2200 lbs), so it should be fast.

Bolwell will also outfit the vehicle with a number of creature comforts. For example, there will be an 8.0-inch infotainment screen, a digital instrument cluster, push-button start, adaptive dampers, and keyless entry.

Bolwell intends on unveiling the car at Melbourne’s Motorclassica event in October. Current plans call for no more than 25 examples to be built annually, yet the firm says it is investigating selling the car in Asia as well.