Nissan has officially taken the covers off of the new 2009 Nissan 370Z - the first full redesign of the Nissan Z since its introduction in 2003. We already know that power will come from a 3.7L VQ37VHR engine with VVEL (Variable Valve Event and Lift) that makes 332-hp with a maximum torque of 270 lb-ft.

What we learned today from the live reveal of the 370Z is that the engine will be available with a 6-speed manual gearbox as standard and a 7-speed automatic with paddle shifters as an option. Estimated fuel-economy for the 2009 Nissan 370Z come in at 18/26 mpg (city/highway) for both the 7-speed automatic and the 6-speed manual.