The 1969 Chevrolet Camaro ZL1 was a performance monster, featuring an all-aluminum engine displacing 427 cubic inches that was originally intended for racing. Just 69 units were built, and they are highly coveted by collectors today. Perhaps it shouldn't come as a surprise, then, that Chevrolet chose to resurrect this classic moniker for what it is calling the fastest and most technologically advanced Camaro ever built.

At this point, specifications are still preliminary, but Chevrolet is estimating that its supercharged and intercooled 6.2-liter LSA V8 engine will put out around 550 horsepower and 550 pound-feet of torque. Those ponies will be sent to the rear wheels via a six-speed manual transmission using a dual-disc clutch that's necessary to properly harness all those horses. There's also a dual-mode exhaust system that alters the sound level and character in response to engine rpm.

Chevrolet tells us that its goal was to built "a Camaro intended to reach optimal lap times on top road-racing circuits and excellent driving dynamics on the street." To that end, the 2012 Camaro ZL1 will be fitted with a new electric power steering system and Magnetic Ride Control that will offer both Tour and Sport modes. Brembo brakes measuring 14.6-inch (370 mm) in the front (with six-piston calipers) and 14.4-inch (365 mm) at the rear (with four-piston calipers) bring it all back down from speed.

Naturally, there's an updated body kit to differentiate the ZL1 from lesser machines. Most notable are the redesigned fascia that features a front splitter, vertical fog lamps and air intakes designed for brake cooling. There's also a new aluminum hood with a raised, satin black-finish carbon fiber insert that uses a unique air extractor that is said to increase downforce by directing oncoming air over the car. There's also a spoiler at the rear of the car and new 20-inch aluminum wheels fitted with specially developed Goodyear Supercar F2 tires.

Chevrolet promises to have the Camaro ZL1 on dealer lots in the beginning of 2012, and it will be available in any color offered on the Camaro. We can hardly wait.