In late 1994 Callaway Cars Inc. made a agreement with a German subsidiary - Callaway Competition GmbH - for a new car development. The car was primarily intended to race tracks but there was the intention to offer the product to public sales. In the first steep of the project two cars were built for participation in races at Daytona and Lemans.
Callaway C7 was designed to be the most powerful, lightest weight sports GT commercially available. It is powered by a a naturally aspirated 6.8 liter Callaway aluminum V8 that delivers around 680 hp. In racing trim, it produces over 680 hp limited by the air restrictor mandated for LeMans.
The car can reaches the highest top speed among its competitors, 205 mph, and is able to accelerate to 60 mph from immobility in only 2.8 seconds. The project was abandoned in 1997 when FIA changed the GT1 regulations.