In 1965 the car was updated with new fibreglass bodywork providing lower drag and reduced weight (620 kg). This new version was also made by Zagato. The new design was called the Alfa Romeo Giulia TZ2.
The TZ2 was only built as racing version; it was equipped with an Autodelta-prepared twin plug, dry sump lubrication 1,570 cc straight-4DOHC engine producing around 170 brake horsepower (130 kW) at 7000 rpm. With this engine the car reached top speed of 152 miles per hour (245 km/h).
The rear window was also changed, now single unit rather than three part window in TZ. Development of TZ cars was stopped in the end of 1965, to make room for new GTA racing program. Only 12 TZ2s were built.
The car won the prestigious Gran Turismo Trophy at the 2009 Pebble Beach Concours d’Elegance.