Relax! No V6, no turbocharger. The new Corvette is getting a brand-new 6.2 liter LT1 V8 engine developing (estimated) 450 horsepower (335 kW) and 450 lb.-ft. of torque (610 Nm). It can take the new ‘Vette from 0 to 60mph in about four second. More importantly, it will make the C7 the most fuel efficient Corvette ever.

This small block LT1 will also be used – in different tunes – in other GM products such as the next Silverado pickup truck. It features advanced technologies such as direct injection, Active Fuel Management and continuously variable valve timing to achieve optimum fuel efficiency without compromising performance.

Official performance and economy figures will be revealed next year, but Chevrolet reckons it will do better than 26 mpg.

“Our objective for the development of the all-new LT1 was to raise the bar for performance car engines,” said Mary Barra, senior vice president, global product development. “We feel that we have achieved that by delivering a true technological masterpiece that seamlessly integrates a suite of advanced technologies that can only be found on a handful of engines in the world.”