If we were to buy an older BMW, most likely the Z8 would be in the top 5 models to choose from. Produced between 2000 to 2003, the Z8 was previewed by the Z07 Concept and was meant to evoke and celebrate the classic 507. It was only offered as a roadster, and, despite rumors, it was never brought back to life after 2003. But now, Smit Vehicle Engineering (SVE), located in California, came up with a modern interpretation of the Z8, and, we have to admit, we like it just as much as the original Z8.

The car, called Smit Oletha was not built on a Z8 chassis. Instead SVE opted for a E86 Z4 Coupe and used a lot of carbon fiber in the building process. This ensures a curb weight of only 3,090 pounds. The original Z8 weighted 3,494 pounds.

The Oletha features a clean and elegant design, with numerous elements clearly inspired by the Z8: the headlights, the grille, the taillights and the car's general shape. A specially designed rear spoiler will make the car even more aerodynamic.

When it comes about dimensions, the Oletha is a little bit more compact than the original Z8: it measures 4,350 mm (171.25 inches) in length and 1,850 mm (72.83 inches) in width, while the Z8 was 4,399 mm (173.2 inches) and 1,829 mm (72 inches) respectively.

SVE announced that customers will be able to tailor the vehicle of their dreams by choosing from a wide list of components, materials, colors, and textures.

For the interior, the cockpit with the driver in mind: the controls are tactile and they fall naturally under the hands without distracting the eyes or mind. The dashboard and the seats are covered in the best quality materials, with carbon fiber composite sport seats also being offered as an option. And Audiophile-grade sound system reminds us this is ordinary Z8.

Under the hood there is a naturally-aspirated 4.4-liter V-8 engine, the same used for the E90 M3 CRT and E92 M3 GTS. The engine has been upgraded with carbon fiber intake manifold and a specially designed exhaust system made from stainless steel and Inconel. As a result it delivers a total of 450 horsepower - which is 55 horsepower more than the Z8. The engine is mated to a 6-speed H-pattern manual transmission.

There are no words on the performance figures, but it should be fast than the Z8, which goes from 0 to 60 mph in 4.7 seconds and up to a top speed of 155 mph.

And now for the bad part: the Smit Oletha is priced at £335,000 - or about $450,000 at the current exchange rates!