Can anyone identify this?

Spotted at a car show. The only original piece left (I think?) is the steering wheel, which suggests that it used to be some kind Pontiac. The rest is “hand crafted” sheet metal and plywood... interior shot after the jump.

Those welds! And that padded dash! Cutting edge stuff.
The wheels definitely came off of something American from the sixties or seventies.
The “Arachnio” looks to be powered by some kind of small block V8, which would make this featherweight aboniation pretty quick; a terrifying prospect.

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