With the 1963 Corvette C2 design locked down, in 1961 as a concept for future Chevrolet Corvette the groundwork for the XP-755 was laid down.
Building on the design of the 1958 XP-700 "double bubble", the XP-755 added design elements of the soon to be released C2 Corvette. In keeping with the name, the streamlining, pointed snout, and other detailing was partly inspired by the sleek, fast-moving shortfin mako shark.
The '61 Corvette tail was given two additional tail lights (six total) for the concept car. The concept was also inspired by Bill Mitchell's 1959 Stingray racer XP-87 which also influenced the 1963 Corvette Sting Ray.