The inside information reveals that the concept is not, as had been speculated, a C7 Corvette prototype, but rather purely a concept. The resemblance to the Corvette is intentional, but other iconic GM cars also feature in its design. The front end, for example, is reminiscent of the Camaro, while the outlandish rear end is completely new and concept-specific.
Overall, the low canopy, bulky haunches and general demeanor of the car definitely hint at Corvette, but the details show it to be a design study incorporating much of GM's history - appropriate for its intended purpose. Expect to see the car before the Transformers movie debuts if the information holds true.