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 |  Sep 22 2009, 10:12 AM

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Chevy’s on-again, off-again plans to build an ultra high-performance Z28 version of the all-new Camaro are back on again. Ed Welburn, GMs VP of global design, told the folks at Inside Line, that it will see production and that the new body design has already been completed.

The new Z28 would get a version of the Cadillac CTS-V’s supercharged 6.2-liter V8, which makes 556-hp in that application. The V also comes with both a six-speed manual or a six-speed automatic, so we should expect both versions to be offered on the high-powered Camaro.

Plans for a Z28 model were canned when the economy took a nose dive and General Motors declared bankruptcy. But during that entire process the Camaro was a bright light, as sales soared. Now GM is hoing to capitalize on the new Camaro and ride its wave of success for as long as possible.

This new Z28 would in many ways be a direct competitor for Ford’s 540-hp Shelby GT500. That being said, expect more than just aesthetic modifications, with bigger brakes and some suspension tuning.

At the earliest the Camaro Z28 would be a 2011 model, with the possibility of sales some time later in 2010.

[Source: Edmunds]