GTO Engineering, an expert restorer of classic Ferraris based in the United Kingdom, recently tested the waters with its own sports car matching the styling and mechanicals of Ferrari's 250 GT SWB.

Despite costing about a $1 million, still a bargain compared to the real thing, GTO Engineering's own 250 GT SWB Revival was successful enough to spawn a successor. That successor is another sports car inspired by a 1960s-era Ferrari, and judging by the teaser sketches the Ferrari in question is none other than the legendary 250 GTO.

However, unlike the 250 GT SWB Revival, which was based on a genuine Ferrari chassis, either from a donor 330 or 365, GTO Engineering's latest car, code-named Moderna, is being built from the ground up using a custom tubular steel chassis, aluminum sub-frames, and carbon-fiber body panels.

It will also feature modern suspension, brakes and electronics to reflect modern touches and reliability.

GTO Engineering's Project Moderna

GTO Engineering's Project Moderna

GTO Engineering's targeted weight for the car is less than 2,200 pounds, which should make it extremely quickly considering the company plans to drop a quad-cam V-12 under the hood. The modern engine is being developed in-house by GTO Engineering. The V-12 used in the 250 GT SWB Revival came in 3.0-, 3.5- and 4.0-liter flavors, all developing over 300 horsepower.

“We’ve learnt from building the 250 SWB Revival, and working on a range of Ferraris, that a car’s weight and engine are two of the key ingredients to make a good sports car,” Mark Lyon, managing director at GTO Engineering, said in a statement.

GTO Engineering will also offer a number of personalization options, including paint and trim, as well as the option to adjust major components like the suspension and transmission.

Interestingly, some of the 250 SWB Revivals that GTO Engineering built went to owners of the original car. With prices now exceeding the $15 million mark, taking out an original and driving the heck out it won't exactly be stress free.