Known internally as the Type 5, the new vehicle is targeted at the likes of the Lotus Elise and Ariel Atom as an open-air track-car. Power will come from the turbocharged four in the Pontiac Solstice GXP and Saturn Sky Redline, packaged in a completely new chassis with styling penned by sister company HSV's design studio. Pricing, released along with the design sketch you see above, is pegged at AUS $65,000 (approximately $63k in today's devalued American greenbacks). That's significantly less than a supercharged Elise, but with more power and even less weight, which sources suggest should allow it to hit sixty in a scant 3.7 seconds. We'll be watching closely to bring you the latest once the Elfin Type 5, or whatever Tom Walkinshaw's outfit chooses to call the vehicle, makes its anticipated debut down under sometime next month.