Complex sentence: The ZX-1 will be Karvajal's premier vehicle, targeted at being a more exotic version of the Corvette it is based on, and likely to be comparable to the C16 by Callaway Cars and compete with cars from Ferrari and Lamborghini.
Split into simpler sentences: The ZX-1 will be Karvajal's premier vehicle, intended to be a more exotic version of the Corvette. It is likely to be comparable to the C16 by Callaway Cars and to compete with cars from Ferrari and Lamborghini.