2008 Scuderia Bizzarrini p538 Barchetta Prototype

2 years ago, Cobra International Co., Ltd. and Kevin Gallahan, announced the start of production of the Cobra Limited Edition, Arbitrage GT. A lightweight component sports car made almost entirely of carbon fiber.

Then 8 months ago a great opportunity presented itself.

Well into the construction of the Arbitrage GT platform, The Cobra/Arbitrage team took the opportunity to join together with Mr. Giotto Bizzarrini to bring back a modernized version of the Bizzarrini P538. Because of the obvious historical opportunity, the original Arbitrage GT has been put on the back burner while the Cobra/Arbitrage team presses on to finish the first four Bizzarrini cars within this year. Plans are to ship the first prototype to Nardo for testing by Mr. Giotto Bizzarrini and his team. The date will be announced however completion is slated to be sometime in November of this year.

Between 1966 and 1968 Mr. Giotto Bizzarrini constructed two P538's using Chevrolet V8 engines. The similarities of concept between the Arbitrage GT platform and P538 brought Mr. Bizzarrini and the founder of the Arbitrage GT project together. All that was left was the body design.

Mr. Stefan Shultze
Chosen as the lead designer for the New Scuderia Bizzarrini P538, Mr. Shultze has provided the Cobra/Arbitrage team the design visualization used as the foundation for the project. Due to safety concerns of the low roadster windshield, the design has changed to accommodate a full windshield with front rollover support and the comfort of a removable carbon hardtop. Throughout the design process, Mr. Bizzarrini was involved until he approved the final design. In Giotto's own words, 'Incredible. It really communicates my style and character, very rare!'

Interior Design


Power to-order

While continuing to offer the Chevrolet LS7 as the basic power plant, buyers may also order their choice LS7 derivatives, such as the Lingenfelter twin turbo LS7 with up to 1000 horsepower. The New P538 will use the CIMA 6 speed gearbox used in the Pagani Zonda and the Koenigsegg CCX.

Clutch – AP Racing

Shocks – Penske

Brakes – Alcon

Wheels – Forgeline

Tires – Bridgestone

Seats – Recaro Custom

Giotto Bizzarrini : Living Legend


A test driver, engineer and carmaker, Giotto Bizzarrini is the man behind such cars as the Ferrari 250 GTO and the Testa Rossa, the Iso Rivolta GT, the Iso Grifo and the American Motors AMX/3. He is also the designer of the V12 engine used by Lamborghini in the 350 GTV and the builder of numerous prototypes that bear his own name, such as the Competizione P538, the Duca d'Aosta and the GT Strada 5300.

Engineering – Galmer Inc.

Only 100 cars

Although the final price has not yet been released, Kevin Gallahan, the founder of the Arbitrage Project, still contends, 'what the customer will receive for the money, compared to any other manufacturer outside of Thailand, especially those using advance lightweight composite parts, will be without comparison.' The Cobra/Arbitrage team will make only 100 of the Scuderia Bizzarrini P538's over a period of 4 years. Kevin goes on the say that, 'This is an honor to be involved with Mr. Giotto Bizzarrini. Our team must insure that the manufacturing is at the highest level. I feel what you will find, from the inside out, is truly more than a car. The new P538 has a heart beat. Each car has it's own character, and we document that. Carbon fiber is more organic than you can imagine. Although some of the tolerances of the car are in the microns, each car will certainly be different. And we have some big surprises on some of the cars. But you will have to wait and see them for yourselves. It has been a long journey, but we are near, very near, and we are looking forward to Nardo at the end of this year.'

Source - Cobra International Co. / Arbitrage Project