The latest in the Chevrolet Camaro line-up is set to be released in the 2012 model year. The rumored Z28, now renamed the ZL1, takes SS styling and performance to a whole new level.  Road and Track just released its first look at this pony car with many impressive specifications and things to say about it, according to

Equipped with a supercharger, the 550 horsepower ZL1 Camaro has 124 more than the stock SS. Complete with a larger, limited-slip differential, lighter wheels with 305-width tires in the rear, “beefy” drive train components and standard 6-speed transmission, the new ZL1 is set to dominate not only on the dragstrip, but on road courses as well. Road and Track states that bracket racing could be taken by storm by the ZL1 with its standard launch control and possible Performance Traction Management system, as currently seen on the Corvette ZR1. With this technology, the new ZL1 could pull consistent mid 12-second quarter miles. The hood has been redesigned with a black carbon-fiber vent and modified fascias to create a unique, yet functional, look for the ZL1. All this performance and style could be yours for right around $50,000.

With approximately 30 percent of the new ZL1 being designed specifically to dominate against competing cars, Chief Camaro Engineer Al Oppenheiser told Road and Track that, “Our new leadership has told us we don’t just compete anymore, we win.” So watch out GT500, because the new ZL1 is sure to be right on your tail and striving to make you eat exhaust.