The Lancia Stratos is set for a modernised encore, courtesy of a limited production run by Manifattura Automobili Torino (MAT), according to Autocar. The resurrection of the Italian mid-engined sports car first came about in late 2010, and the project had gone rather quiet since then, until now.

The refreshed tribute to the legendary sports car from the 1970s employed the modified aluminium spaceframe from the Ferrari 430 Scuderia, and used that car’s 4.3 litre V8 and single-clutch automated manual drivetrain. A roadblock in development surfaced in 2011, as Ferrari blocked designers Pininfarina and ‘any other Ferrari-dependent suppliers’ from putting the New Stratos into production.

The designers, commissioned by entrepreneur Michael Stoschek then had to look elsewhere for a base car, and builders MAT have obtained permission from Stoschek to “replicate the New Stratos using the same design and technologies of his car,” Autocar said. So far, the only powertrain details available for the refreshed New Stratos is that the engine produces 550 PS. The 2010 concept produced around 540 PS.

Earlier cars made by MAT include the Apollo Arrow and the Scuderia Cameron Glickenhaus SCG003S, among other one-off and limited production luxury and racing cars. The company was founded by Paolo Garella, who worked for Pininfarina in the past and has involvement with more than 50 bespoke car projects in the past 30 years.

As for the revised Stratos here, Autocar says prices start from €550,000 (RM2,998,607), minus the cost of the Ferrari F430 donor car. Deliveries are tipped to start in April this year, and right-hand-drive units will be produced if there is demand.