Ferrari has released the first teaser video for its upcoming 488 Special Series.

Rumored to adopt the GTO moniker, the video reveals the model will have full-length body stripes and lightweight wheels that are backed up by a high-performance braking system. We can also see a massive diffuser and what appears to be a dual exhaust system.

While the video only provides a few glimpses of the car, it appears to be nearly identical to the model that surfaced last month. That image showed the styling changes will include an all-new front bumper with an aggressive splitter.

The video also gives us a glimpse of the interior and it reveals the car will have an Alcantara-wrapped steering wheel with integrated LED shift lights. Designers also installed alloy pedals and a tachometer with a redline of approximately 8,000 rpm.

Ferrari isn’t saying anything about the car but reports have suggested it will be equipped with a number of carbon fiber components including the hood, bumpers and rear spoiler. The model is also slated to have 20-inch carbon fiber wheels which are 40 percent lighter than their conventional counterparts.

The weight savings will be backed up by aerodynamic styling tweaks which will enable the model to have a 20 percent improvement in “aero efficiency” over the 488 GTB.

If that wasn’t impressive enough, the car is rumored to have the “most powerful V8 engine in Ferrari history.” Nothing is official but slides showed it will be an evolution of the turbocharged 3.9-liter V8 engine that resides in the 488 Challenge. It will reportedly produce more than 700 PS (514 kW) and be 10 percent lighter than the engine in the 488 GTB.

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