The GTO Engineering Squalo is like a classic Ferrari built anew.

GTO Engineering, a U.K.-based classic Ferrari restoration expert, recently put its classic Ferraris to the test with its own sports cars that mechanically match the styling of classic Ferraris, particularly the 250 GT SWB and 250 Testa Rossa.

Despite a price tag of about $1 million, still a bargain compared to the real thing, GTO Engineering's classic Ferraris, known as the Revival Series, have been successful enough to lead the company to a more ambitious project: a 1960s Ferrari, This time it's another inspired by the legendary 250 GTO.

Formerly called Project Moderna, GTO Engineering last week decided to officially name the car Squalo, which means "shark" in Italian. The company also released new photos showing the car's final design. Unlike the [250GT SWB (shown below) and 250 Testa Rossa Revival models, which were based on a stock Ferrari chassis from a 330 or 365 donor, the Squalo will use a custom steel tube chassis, aluminum subframe, and carbon fiber body panels The Squalo is built from the ground up using a custom tubular steel chassis, aluminum subframe, and carbon fiber body panels. It will also feature the latest suspension, brakes, and electronics to ensure modern safety and reliability.

GTO Engineering's target vehicle weight is under 2,200 pounds, which should be very fast considering the planned quad-cam V12 engine under the hood. This latest engine is being developed in-house by GTO Engineering and will be paired with a manual transmission.

The V-12 engines in GTO Engineering's previous cars included a 3.0-liter, 3.5-liter, and 4.0-liter, all producing over 300 hp. It has been confirmed that the Squaro will be equipped with the 4.0-liter, and the specific output of the engine will be revealed at a later date.

GTO Engineering is building the first prototype chassis. One of the challenges will be to meet modern weight distribution and ergonomic requirements while maintaining classic proportions. People today are a little taller than they were in the 1960s.

GTO Engineering will offer a number of personalization options, including options to adjust paint, trim, and key components such as suspension and transmission. The company is also developing its own wheels, available in sizes up to 18 inches.

Orders are now being accepted, and GTO Engineering expects to begin deliveries in 2023.

Interestingly, some of the early Revival cars built by GTO Engineering have ended up in the hands of original Ferrari owners. With prices typically running into seven figures, acquiring an original and making a hell of a drive out of it would not necessarily be a stress-free experience.