The Panoz Roadster sports car first hit the market in 1992. Five years later, the Georgia-based Panoz Auto Development Company, released the AIV Roadster. A third model was scheduled to be launched in 2015. Other models from the manufacturer include the Esperante GTR-1 and the Esperante GTS.
Daniel Panoz founded the company in 1989. Mr. Panoz borrowed the chassis design from the Thompson Motor Company (TMC). After TMC had been forced to shut down in 1988, he acquired the rights to their chassis. That chassis was the brainchild of the inventor of the Maserati, Lotus and the Lister engines, Mr. Frank Costin.
Their cars were all predominantly built using lightweight aluminum. Aerospace technology helped inspired their unique shapes and trademark designs. Coming in with a powerful 16-valve, V8 engine with a 430 HP it was a sports car comparable to very few others in the market. It was able to accelerate from rest to 60 mph in a record time of just 4.3 seconds. Ideally, the cars were meant to be racing cars. The manufacturers, however, made sure the racing cars remained ever so close to resembling road cars.