Video: BMW M3 racing version in action

At the 2008 Chicago Auto Show in February, BMW announced that it will be returning to the American Le Mans Series in early 2009 with a racing version of the new BMW M3. Based on the new 2008 BMW M3, power comes from a BMW P65 V8 485-hp engine.

BMW hopes that the M3 racing version will be an immediate front-runner when it makes its return to the American Le Mans Series next year – which will be made possible by a parternship between BMW of North America and Rahal Letterman Racing.

Click through for the video .