Dormant British sports car manufacturer TVR is hopeful of making a triumphant return to the automotive world with a German-built, Corvette-powered roadster, according to UK website Autocar.

Although a deal is yet to be finalised between TVR and Gullwing – the company that manufactures the descendant of the AC Cobra, the MkVI – the word from TVR’s Russian owner, Nikolai Smolenski, is that it’s a matter of when rather than if.

With a concept vehicle rumoured to be unveiled in July, Mr Smolenski confirmed TVR would initially re-emerge with convertible models underpinned by a steel chassis, all-independent suspension and a Corvette-sourced engine.

“We looked at every engine available – including making our own – and decided that the Corvette was the most powerful off-the-shelf design going. Fitting it to our chassis allows us to meet all current regulations and it is not too big a step,” Mr Smolenski said.

He also revealed a hybrid concept is in the works at TVR.

TVR began production in 1957 and was forced to close in 2006 when it became unsustainable. Mr Smolenski reportedly purchased the company for £15 million ($24.6 million) in 2004.