It has been vigorously denied that the 4.2L is ever going into the ME Corvette, and separately confirmed through a secondary source. It is looking like the first year we only get one motor, a roughly 500 HP, LT1 derived (though enhanced), traditional Corvette V8, with pushroads, OHV, and is naturally aspirated. Whether it will be called an LT2, and LTZ or whatever is not yet known. The HP versions of ME motors coming in the following years, will most likely be a 5.5L, 32V, DOHC, twin turbo V8, though more details are not known.
What is interesting about the above 4.2L that is confirmed to be going into the CT6, is that it is being hand assembled right now at the Bowling Green Assembly Plant — but only for the CT6’s. They will make approximately 2,000-3,000 units per year via a team of six engine assembly specialists within the Powertrain Build Center located inside the Plant — the same PBC where if you select your “build your own motor,” $5,800 option (US), you used to be able to build your LT4 or LT5 motor.
The PBC is currently being expanded significantly in size, gobbling up space where the old paint shop used to be — though we do not know whether it is taking up 1/3, 40% or even 1/2 of the old paint shop’s area.