GM’s Secret Firebird: When a Pontiac Hid a Ferrari Daytona V12 Engine

Under the command of the legendary Bill Mitchell, GM designers created the Pegasus concept: a 1970 F-body that fused American muscle with the exotic heart of Maranello.

When looking at the second-generation Chevy Camaro and Pontiac Firebird (1970), it is hard not to notice the subtle influence of classic Ferraris, like the 250 GT SWB, in their curves and proportions. However, few know about the secret project developed behind GM’s closed doors. It was called Pegasus, an F-body concept that literally housed a genuine V12 from Italy under the hood. Its story began with a sketch by a young Chevrolet stylist, Jerry Palmer, who was looking for a more European design for the Camaro.

Legendary GM design chief, Bill Mitchell, swiped the idea and assigned it to the sportier sibling: the Pontiac Firebird. The result was a 1970 Firebird that ditched Trans Am excesses in favor of European glamour and sophistication. The car genuinely looked like it came from an Italian coachbuilder, not Detroit. Mitchell named the concept Pegasus, the winged horse from mythology.

The Heart of a Ferrari Daytona

The Pegasus was not just about aesthetics. Beneath its seductive red body beat the heart of a Ferrari 365 GTB/4 Daytona. The 4.4-liter, 347 HP V12 engine was apparently donated by Ferrari itself. GM engineers had to move the firewall back 9 inches (230 mm) to manage fitting the exotic powertrain. The challenge was significant when they attempted to mate it with a GM three-speed automatic transmission. Today, Pegasus runs with a 365 GTC/4 V12 engine, coupled with a more appropriate Ferrari manual transmission.

The Pegasus design introduced features that would later appear on GM production models. Its front end featured a distinct “pout” in the Ferrari 250 Testa Rossa style. The vented hood had a narrow central bulge to clear the velocity stacks poking from the 12-cylinder engine’s vee. Furthermore, the concept was equipped with Corvette rear disc brakes (something unheard of on second-generation F-bodies). The wire wheels were not cheap hubcaps but genuine Borrani units, Ferrari’s own supplier.

Although the crude live-rear-axle and over-light power steering were pure Detroit, the sound was unmistakably Ferrari. The Pegasus served as a testing ground for key aesthetic elements. The semi-recessed headlight theme appeared on the 1974 Camaro and Firebird. The wraparound rear window, which massively improved visibility, reached showrooms the following year. Pegasus remained Mitchell’s property until his death and now resides in GM’s Heritage Collection. It is a reminder of Mitchell’s tremendous influence and what was possible in Detroit.