It's the famed rally racer for the more modern era.

With the new FIA Group B rules shoehorned in the '80s, Lancia had to develop a new contender for the motorsports competition, hence the birth of the Lancia 037. Of course, as part of the homologation rules, a number of 037 Stradale units were made, but we're betting that only a few of these mid-engine sports cars are still seen rolling around the streets these days.

Kimera Automobili wants to relive the glory days of the 037 by restoring and modifying one. Meet, the Kimera EVO37 – a clean restomod that can stand as the 037 for the modern era.

Gallery: Kimera Automobili EVO37

The EVO37 remains faithful to the original Lancia 037. The shapes and lines are identical, while the only change given to the exterior design is the LED lights. Then again, the EVO37 is a bit longer than the original Lancia, while the body is now made out of carbon fiber instead of the fiberglass used on the 037. From the maxi rear wing to the shape of the roof, everything is as it was.

Of course, the engine that resides behind the seats in longitudinal position is still the same – the 2.1-liter mill made by Italtecnica, then redesigned and re-engineered from scratch under the guidance of Lancia engineer Claudio Lombardi. With turbocharging involved, it now makes 505 horsepower (377 kilowatts) and 406 pound-feet (550 Newton-meters) of torque.

And yes, the Kimera EVO37 is still rear-wheel-drive and comes with a manual transmission. Öhlins take care of the quadrilateral suspensions, while Brembo carbon-ceramic brakes are available.

Only 37 units of the Kimera EVO37 will ever be made, each with a base price of 480,000 euros (around $585,000 with the current exchange rates). It will debut in the metal at the upcoming Goodwood Festival of Speed with customer deliveries starting in September.

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