After years of rumours and teasers, Chevrolet has finally revealed the all-new mid-engined Corvette Stingray.

It is powered by the latest evolution of the traditional V8 engine, but it has been moved from beneath the bonnet to behind the driver in a set-up more akin to an exotic supercar than an American muscle car.

Chevrolet says the new positioning of the 6.2-litre engine improves weight distribution, while moving the driver forward and closer to the axle is said to improve responsiveness and sense of control.

The V8 develops 488bhp and feeds the rear wheels via an eight-speed dual-clutch transmission. The 0-60mph sprint is pegged at under three seconds for the Z51 Performance Package, making it the fastest accelerating Corvette ever.

Chevrolet says new positioning of 6.2-litre engine improves weight distribution

The aggressive styling is said to be inspired by modern fighter jets and Formula One race cars while incorporating classic Corvette cues.

Michael Simcoe, vice president of global design at General Motors, said: “As America’s most iconic performance nameplate, redesigning the Corvette Stingray from the ground up presented the team with a historic opportunity, something Chevrolet designers have desired for over 60 years.

“It is now the best of America, a new arrival in the mid-engine sports car class. We know Corvette can stand tall with the best the world has to offer.”