This year, Nissan is celebrating 50 years of the GT-R. At the same time, Italdesign also happens to be commemorating their 50th anniversary. To celebrate, Nissan and Italdesign has decided to collaborate for the first time on a very special project – the GT-R50.

Off the bat, we have to tell you now that the GT-R50 is not the next-generation R36 GT-R, be it either in concept or prototype forms. Instead, Nissan describes it as a 'GT-R without limits'.

Not the R36: Nissan, Italdesign create unique GT-R with 710 horsepower

"Although this is not the next-generation GT-R, it is an exciting celebration of two anniversaries in a provocative and creative way – wrapping one of Nissan's best engineering platforms and Japanese design with Italian coachbuilding," said Alfonso Albaisa, Nissan's senior vice president for global design.

While it does seem to be inspired by Nissan's 2020 Vision Gran Turismo Concept, the GT-R50 is in fact based on a 2018 GT-R Nismo. In fact, it continues to retain the GT-R's iconic styling such as the slanting roofline and the four round taillights.

Not the R36: Nissan, Italdesign create unique GT-R with 710 horsepower

As for the rest of the body, Italdesign has taken a more furturistic approach. New LED headlights with a unique design stretches from the wheel arches up to the lower air intake. There is also a more promiment power bulge in the hood. To make the GT-R50 sleeker, the designers lowered the roof by 54mm.

At the rear, the Nismo's fixed rear wing has been replaced by an adjustable spoiler. Rounding off the exterior changes are the redesigned rear window and 21-inch wheels wrapped in Michelin Pilot Super Sport tires.

Not the R36: Nissan, Italdesign create unique GT-R with 710 horsepower

Inside, two different carbon fiber finishes are used across the center console, instrument panel and door linings. The seats are now lined with Black Italian leather and black Alcantara. A digital gauge cluster replaces the standard GT-R unit.

Under the hood, Nismo has upgraded the 3.8-liter twin turbo V6 and now produces 710 PS and 780 Nm of torque. Changes include GT3-spec turbos, larger intercoolers and revised internals to name a few.

The Nissan GT-R50 by Italdesign will make its public debut in Europe next month.