The Wheeler Dealers host made his own version of the Alfa 158 Grand Prix racing car which won the first two F1 World Championships in 1950 and 1951. The car is regarded as one of the most successful race cars of all time and is an icon among classic car collectors.
For those wanting to take the car to the limit and beyond the British Racing and Sports Car Club (BRSCC) is set to launch a new race series dedicated to the new model.
These will start as a series of track days before a demo event will be held at Cadwell Park race track in August.
A full race format will be used from 2022 with plans in place for a European and US series in the pipeline.
He said: “Once it’s built, you have a car that will let you feel the sensations that Fangio would have experienced.
Extra pieces can then be added bit by bit such as the losing panels, fuel delivery system and signal kit until the entire model is completed.
The team behind the TIPO184 say Individual Vehicle Approval (IVA) is possible which will allow the model to be used on UK roads when built.
They estimate the entire build will take bwteen 100 and 150 hours to complete.
For those who do not wish to build a car, the team will be accepting orders for completed cars next year.