One of the most interesting still-born supercar projects of the 2000s, the P538 started off as the Galmer Arbitrage GT from Thailand. This project eventually morphed into the P538 when Kevin Gallahan of Arbitrage joined forces with famed Italian car builder Giotto Bizzarrini and created a modern variant of the famed P538. They brought in designer Stefan Schulze, whose beautiful work reflected both the earlier Arbitrage GT and original P538 while being an original design in its own right.

Unfortunately, a controversy arose over the use of the Bizzarrini name and logos, and the project was renamed the Magnate P708 before it ultimately died. This prototype was completed and has been on display at CoSyst GmbH in Nuremberg since 2010.

As for the vehicle itself, it benefits from an exceptional chassis and design which allow for an impressive power-to-weight ratio from a naturally aspirated GM engine. The vehicle weighs only 2380 lbs while producing 540 hp, or 4.4 lbs per hp. Estimated top speed is 224 mph, and 0-60 mph is calculated to appear in 2.55 seconds.