Since 1996, Bullet has been manufacturing sports cars based on the Mazda MX 5. In 2001 the company was taken over by Advanced Engine Components Ltd. In November 2001 the V8 Roadster debuted with a V8 engine, original chassis, and car body elements taken from the Mazda MX 5. The car was offered with a tuned 4.0-liter 306 hp V8 unit by Lexus and the V8 SS Roadster – with a 4.0-liter 435 hp V8 Lexus unit.