Prototypes for the Z06 version of the seventh-generation Chevrolet Corvette have just started testing, though they don’t reveal too much detail just yet. However, we hear that the car will break from tradition and no longer be called a Z06 but will use a new “Z07” designation to ride on the publicity of the ‘C7’ ‘Vette.

The information was reported by Car and Driver, which claims there won’t be a replacement for the ZR1--at least not until very late into the seventh-generation Corvette’s life cycle. To fill the void left by the C6 ZR1, the alleged Z07 will see its performance notched much higher than the C6 Z06 it replaces.

We find it odd that Chevy would ditch the Z06 designation, which originally was an RPO code representing a special performance package devised by Corvette legend Zora Arkus-Duntov for the C2 Corvette back in 1963. It then reappeared on the C5 Corvette in 2001 and most recently on the C6 Corvette in 2006.

However, the story gets stranger as Car and Driver reports that the engine for the Z07 will be a V-8 displacing less than 6.2 liters, possibly the twin-turbocharged 4.5-liter V-8 shown in Cadillac’s Elmiraj concept car from the 2013 Pebble Beach Concours d’Elegance. Peak output of the Z07 is said to register at around 600 horsepower. If a successor to the ZR1 is built, we hear it will develop as much as 700 horsepower.

Sadly, this boost in performance for the Z07 means pricing will rise close to ZR1 territory. A sticker price of around $100k is mooted. When will we see the new Corvette Z07? Look for an auto show debut in early 2015 with the car landing in showrooms later that year as a 2016 model.

2012 Chevrolet Corvette Z06 (left) and Corvette ZR1

2012 Chevrolet Corvette Z06 (left) and Corvette ZR1

_______________________________________

Follow Motor Authority on Facebook, Twitter, and Google+.