Italian firm Lazzarini Design has unveiled the first images of the 550 Italia – a Fiat 500 that’s powered by the same V8 engine used in the 458 Italia.
The next step is to look for an investor who is willing to provide 550,000 US dollars to develop the project.
The 4.5-litre V8 engine - which normally produces 563bhp - will be detuned to 542bhp in order to ‘optimize traction’. Just like the Ferrari, though, it’ll be mounted in the middle of the car, with Lazzarini looking to replace all boot space and the back seats with the engine.
Other features include an aerodynamic bodykit, with new bumpers, revised side skirts, a roof-mounted air intake, a dual-exhaust system and a prominent rear wing.
The 550 Italia will join an elite band of small hatchbacks with big power, such as the Renault V6 Clio and the experimental Golf GTI W12, which featured the W12 engine from a Bentley Continental GT.