By the mid-1950s GM engineer and future Director of High Performance Zora Arkus-Duntov was convinced that publicity from Corvette racing victories would increase sales of the car.

[3] Four Corvettes, all with the new SR package and one with additional modifications including an enlarged engine, appeared in the 1956 12 Hours of Sebring.

[4][11]: 26 [5] The redirected project received GM designation XP-64, with approval given in August 1956 to ready two cars to race at Sebring in six months time.

[2]: 74 Development of the car's chassis, drivetrain and running gear took place in Duntov's skunkworks shop at GM.

[19]: 50–51 [11] The Mercedes' chassis was cut and modified to accept a new small-block V8 drivetrain and new rear suspension of Duntov's design.

[21][22] When Cole announced the car, it was described as an engineering project researching various features to improve both performance and safety.

[27] After its career ended, the Corvette SS remained in storage at various locations within GM until Duntov convinced John DeLorean, Chevrolet's new general manager, to donate the car to the Indianapolis Motor Speedway.

The Corvette SS is slated to sold at auction by RM Sotheby's in Miami, Florida in late February 2025.

[29] The chassis for the Corvette SS was a tubular steel space-frame unit inspired by that of the Mercedes-Benz 300 SL.

[4] The brakes were twin-leading-shoe Center-Plane mechanisms from Chrysler with a custom GM designed Al-Fin drum made up of an iron face and inner surface and finned aluminum cover.

[32] Duntov had originally signed Juan Manuel Fangio and Carroll Shelby to drive the car at Sebring in 1957, but both asked to be released from their contracts, so Fitch and Piero Taruffi were substituted on short notice.

Then the bushings tying the rear lower trailing arms to the chassis split due to having been installed improperly.

[35] In April 1957, the Automobile Manufacturers Association (AMA) voted to enact a ban on motor racing for all of its member companies, which included GM.

"[23] For 1958 the Fédération Internationale de l'Automobile (FIA) reduced the maximum displacement limit to 3.0 liters for sports cars, effectively disqualifying the Corvette SS from any future European events.

[37] At the opening of the Daytona Motor Speedway in 1959, Duntov took the SS out on the track and set fastest lap with a speed of 155 mph (249.4 km/h).