It wouldn’t be an understatement to describe the forthcoming Chevrolet Corvette Z06 as one of the most eagerly-awaited performance cars in recent years and according to the latest reports, it is shaping up to be something special.

Thε latest news comes courtesy of former Wheels Magazine editor-in-chief and current Motor Trend journalist Angus MacKenzie, a well-respected industry veteran who knows what he is on about, and was reposted by the Mid Engined Corvette Forum.

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As we’ve long known, the new C8 Corvette Z06 will feature a 5.5-liter naturally aspirated V8 with a flat-plane crank. MacKenzie says that this engine is actually closely related to Cadillac’s 4.2-liter ‘Blackwing’ V8 and will be built at the same assembly line.

It is understood that engineers within GM were prompted to give the V8 a flat-plane crank after Ford launched the Mustang Shelby GT350 and GT350R with a flat-plane crank 5.2-liter V8. In the Z06, the engine should rev to 9,000 rpm and pump out 617 hp, while previous reports have pegged peak torque at around the 480 lb-ft (651 Nm) mark. That may be less than the 650 hp and 650 lb-ft of the supercharged C7 Z06, but we think customers will appreciate the trade-off for the improved soundtrack.

Mated to the 5.5-liter V8 will be an eight-speed dual-clutch transmission driving the rear wheels. Chevrolet is also expected to equip the model with a unique aero package and a wider track as well as wider wheels and tires.

Chevrolet should release the C8 Corvette Z06 sometime this year. Prices are tipped to start at around $80,000 for a base model but will easily rise to over $100,000 once buyers tick some options.