Smit Vehicle Engineering imagines a BMW Z8 Coupe with Olesa.

BMW never built a Z8 coupe, but if it had, it might have looked like the Oletha, built by a startup company called Smit Vehicle Engineering.

The Oletha is not based on the Z8 convertible that BMW briefly built in the early 2000s. Instead, its roots are more humble. Judging by the interior shots and the shape of the rear windshield, the coupe variant of the first BMW Z4 is the donor vehicle.

Smit Vehicle Engineering eschewed the flame-like surface finish of the donor car and instead opted for a smooth, almost sensual body made entirely of carbon fiber composite material. This helped to keep weight down, reducing the vehicle's weight to only 3,090 pounds (8.6 kg).

This weight figure is all the more impressive considering that it is powered by the same V-8 engine as the Z8 that the Oresa is trying to emulate. In Oresa's case, it's a 4.4-liter V-8, the same unit found in the GTS variant of the E92 M3, with 450 hp and a redline of 8,500 rpm, mated to a six-speed manual transmission that spins the rear wheels via a limited-slip differential.

As for the chassis, it features KW two-way adjustable suspension, AP Racing brakes, forged monoblock wheels, and Michelin Pilot Sport 4S tires. Buyers may also specify a carbon-barrel wheel option for further weight savings.

Smit Vehicle Engineering describes this specification as a "basic framework" that buyers can build upon in the same way that companies like Singer Vehicle Engineering and Gunther Werks customize Porsche 911s

Oresa states.

The Olesa is also priced like some custom 911s, with a starting price of $450,000, according to information from Auto Motor und Sport. That's a hefty price, but for that amount you get a rare car that is almost entirely hand-built.

Smit Vehicle Engineering is not the only company using the Z4 as a base for custom sports cars. There is also Boldmen, which this week unveiled its CR4 sports car based on the latest Z4 convertible.