Monogram 1995 Corvette ZR-1 - 1/25 Scale

In 1986, the Corvette team approached Lotus, then a GM subsidiary, with the idea of developing an ultra-high performance vehicle based on the C4 Corvette. With input from GM's "Corvette Team" of engineers and designers, Lotus designed a new engine to replace the traditional pushrod L98 V-8 that powered the standard C4. The result was the LT5, an aluminum-block V-8 with the same bore centers as the L98, but with four overhead camshafts and 32 valves. Lotus designed a unique air management system for the engine to provide a wider power band by shutting off 8 of the 16 intake runners and fuel injectors when the engine was at part-throttle, while still giving the ZR-1 375 hp when at wide open throttle. As Chevrolet had no facility available which could manufacture the new LT5, construction of the engines was subcontracted to Mercury Marine, a company in Stillwater, Oklahoma which normally specialized in high-performance marine engines.

Lotus also aided in the development of the ZR-1's standard "FX3" active suspension system, which would provide the basis for active suspension systems found (as optional equipment) on all Corvettes since. Much of the ZR-1 tuning was done at Belding, Michigan's "Grattan" raceway.
In 1990, the ZR-1 set a 24 hour speed endurance record at the Firestone test track in Fort Stockton Texas using a near-stock LT5 engine with only minor modifications, including removal of the catalytic converters. The Tommy Morrison racing team averaged 175 mph (282 km/h), including time for re-fueling and several driver changes.

In 1991, all Corvettes received updates to body work, interior, and wheels. The convex rear fascia that set the 1990 ZR-1 apart from the base model was now included on L98 Corvettes, making the styling of the expensive ZR-1 even closer to that of the base cars. The most obvious difference remaining between the base and ZR-1 models besides the wider rear wheels was the location of the CHMSL (center high mounted stop lamp), which was integrated into the new rear fascia used on the base model, but remained at the top of the rear-hatch on the ZR-1's. All corvette ZR-1's had a interesting feature, a power key. It was mounted underneath the radio and using a key you could turn the power from "full" which means all the horsepower and "normal" which disabled the secondary intake ports cutting the power to 200 hp (150 kW). This system is commonly referred to as a "valet key", and was reset to "normal" after the engine was shut off.

Further changes were made in 1992: ZR-1 badges were displayed on both front fenders and traction control was added as a standard feature. In 1993, Lotus redesigned the cylinder heads and valve-train of the LT5, resulting in a horsepower increase from 375 to 405. In addition, a new exhaust gas recirculation system improved emissions control. Production of the ZR-1 ended in 1995, after 6,939 cars had been built.