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I have been meaning to figure out what this part is for some time now, I'm assuming the front of it requires a clip to hold the whole thing into place but since there isn't one there it falls off here and there and I'm not 100% sure but I truly feel there was a performance change when that part isn't "connected". There's a part on the back of it that plugs into another hole on the piece its connected to, I'm guessing its part of the vacuum system from the holes on the parts.
So if anyone can help me put this mystery to rest, its the part with the gold casing on it.
The entire part is the Electric AIR Control (Diverter) Valve. It's the part that controls the flow of air from the AIR pump to the exhaust manifolds and/or main catalytic converter.
It looks like the cover is missing.
If you have to go thru emissons testing, the car will fail if the AIR system is not working properly.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.