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We’ve seen the logo and the drawings, now here’s the all-new 2014 Chevrolet Corvette C7 Stingray in its full glory. All-new because the C7 shares only two parts with the previous gen Corvette. It incorporates an all-new frame structure and chassis, a new powertrain and supporting technologies, as well as completely new exterior and interior designs.

There’s a Stingray in the name, like the iconic 1963 model. “Stingray is one of the hallowed names in automotive history. We knew we couldn’t use the Stingray name unless the new car truly lived up to the legacy. The result is a new Corvette Stingray that breaks from tradition, while remaining instantly recognisable as a Corvette the world over,” said Ed Welburn, GM’s vice president of global design.

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The car’s foundation is a new aluminum frame structure that is 57% stiffer but 45 kg lighter. Lightweight materials, including a carbon fibre hood and removable roof panel; composite fenders, doors and rear quarter panels; carbon-nano composite underbody panels and a new aluminum frame help shift weight rearward for a 50/50 weight balance.

Under the hood is a new LT1 6.2 litre “Small Block” V8 with 450 hp and 610 Nm. GM points out that the LT1 makes 68 Nm more low-end torque than the previous 6.2 V8, matching the 7.0 litre LS7 engine from the 2013 Corvette Z06 from 1,000 to 4,000 rpm. Power-to-weight ratio is better than the Porsche 911 Carrera and Audi R8, GM says.

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The LT1’s performance comes from combining tech like direct injection, Active Fuel Management and continuously variable valve timing with an advanced combustion system. It’s backed by a choice of active exhaust systems that are less restrictive than the previous gen, due in part to an increase in diameter from 2.5 to 2.75 inches.

The standard system offers a 13% improvement in airflow and features a pair of butterfly valves that contribute to improved refinement at cruising speeds when the engine is operating in fuel-saving four-cylinder mode.

The V8 is mated to either a six-speed paddle-shift automatic or a Tremec TR6070 seven-speed manual with Active Rev Matching for upshifts and downshifts. The latter comes with a new dual-mass flywheel and dual-disc clutch.

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Stopping duties are courtesy of standard Brembo brakes with four-piston fixed calipers, holding 320 mm front and 338 mm rear rotors. They have 35% more swept area than previous-gen brakes and stopping distance is improved 9%.

A Z51 Performance Package includes specific close-ratio gearing and an electronic limited-slip differential (eLSD), along with 45 mm piston Bilstein dampers (35 mm Bilsteins stock) and Magnetic Ride Control. It makes the Stingray capable of 1g in cornering acceleration. This track-oriented package also adds brake-cooling ducts, a unique rear spoiler and additional air deflectors.

Going through the cabin shots (real carbon fibre, they say) you’ll notice a rotary knob called Driver Mode Selector, which allows drivers to optimise the ‘Vette for their driving preference and road conditions via five settings: Weather, Eco, Tour, Sport and Track.

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“The result is a more rewarding, more confident experience, whether you’re commuting in a downpour or charging through the corkscrew at Laguna Seca,” said product manager Harlan Charles.

Full gallery of the C7 Stingray, including nice family potraits, is after the jump.