The new Corvette Grand Sport is now official.

Chevrolet unveiled the new addition to the Corvette lineup at the 2016 Geneva Motor Show. In a statement, the company describes the new edition as "A 'purist' model that leverages a half-century legacy of motorsports success."

While the new edition primarily serves as a new edition in the sports car lineup, it is powerful enough to compete on the tracks, Chevrolet adds. According to Tadge Juechter, Corvette chief engineer, they didn't hold back with the 2017 Chevrolet Corvette Grand Sport.

"The result is a potent track car," Juechter said. "For the first time, buyers can equip the Grand Sport with a Z07 performance package – which adds carbon-ceramic brakes, Michelin Sport Cup 2 summer tires, and carbon-fiber aero package that delivers true downforce."

The new Corvette Grand Sport is indeed powerful. Tests showed that the Grand Sport equipped with a Z07 package manages to come close – less than a second off – to the track record of the previous Corvette ZR1 on the GM's Milford Proving Ground.

Industry observers seem to agree. According to GT Spirit, while it certainly is powerful enough, the new packages for the Corvette Grand Sport sit comfortably between the Z06 and below-level versions in the Corvette lineup, making the new Grand Sport's specs a combination of the two.

CNET says that the new Grand Sport is "a Stingray, that's not just dressed in Z06 clothing."

The industry follower adds that Chevrolet has yet to come out with price figures as there will be different price tags for the models under the lineup. The 2017 Corvette Grand Sport will have Convertible and Coupe variants to launch in the summer, while there will be a more premium Grand Sport Collector Edition later this year. There will be additional costs for add-ons, such as the optional Z07 package.