Chevrolet is planning to one-up its last-generation Chevy Corvette Z06 with an all-new Chevy Corvette Z07 model based on the latest C7 Corvette Stingray.

Used as a package code in years past, Car and Driver reports that the Z07 badge will supplant the Z06 nameplate for the 2016 version of the high-performance Corvette. The Z07 also makes sense as the Corvette is now in its seventh-generation.

Given the engineering that went into the standard Corvette, the Z07 won’t require many platform tweaks to handle its additional performance. In fact, technical changes could be limited to Brembo-sourced carbon-ceramic disc brakes and stickier Michelin tires.

Motivation for the Z07 will be provided by a small block V8, but look for displacement to shrink compared to the standard car’s 6.2L LT1. But power freaks need not worry – the Z07’s smaller V8 will be paired with a couple of turbos, resulting in a final output of about 600 horsepower.

It remains possible that Chevrolet could offer the Z07 with a new eight-speed automatic, but odds are the car will be offered exclusively with a seven-speed manual.

A C7-version of the mighty ZR1 seems in doubt at this point, with the Z07 likely to take over as the Corvette’s top billing. To that end, the Z07’s MSRP will increase from the Z06’s five-figure price point to the six-figure range.

Look for the 2016 Chevrolet Corvette Z07 to debut sometime in 2015.

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