This paper introduces a small-scale platform for Connected Autonomous Vehicle (CAV) research that outperforms currently available commercial options in several important benchmarks. The platform is built around a Radio-Control (RC) car utilizing high-performance brushless DC motors allowing the vehicle to reach a maximum speed of 70mph, expanding the possibilities for higher speed research applications. Furthermore, this platform (named after our lab, ASIMcar, for brevity in this article) is equipped with a robust sensor suite and features a state-of-the-art embedded GPU unit for onboard computation, allowing for real-time control over a wide range of challenging operations. For demonstration and comparison, lane keeping as an Advanced Driving Assistance System (ADAS) function was implemented and evaluated using the platform. The commercially available mobile robots are expensive, offer limited capabilities, are harder to modify for various research needs, are more difficult to interface with other robots (cars), and could have proprietary software/hardware features which render them less flexible and less adaptable to specific research needs. The developed ASIMcar overcomes these limitations and provides a highly flexible and cost-effective alternative for automated/autonomous and connected vehicle research and development projects. This paper provides an in-depth description for the development of this car and lists significant features which will assist other researchers to easily and rapidly duplicate them and create a similar platform for their research.