May 8, 2016, 8:00am ET

Next Porsche Panamera to usher in new V8

Other Porsche, Bentley, Audi, and even Lamborghini models are expected to use the eight.

Porsche has announced a brand new twin-turbocharged V8 engine at the 37th International Vienna Motor Symposium.

While the engine's displacement hasn't been made public yet, the fact that it's related to Audi's new 3.0-liter V6 suggests it's a 4.0-liter unit. What we do know is that it generates 550 horsepower at 5,750 rpm and 568 pound-feet of torque over a broad range that stretches from 1,960 to 4,500 rpm in its most basic state of tune. The redline is set at 6,800 rpm.

The new V8 will replace the twin-turbocharged 4.8-liter V8 (pictured) currently used by the Panamera and the Cayenne. To put the aforementioned specifications into perspective, the existing unit makes 520 horsepower and 516 pound-feet of torque in base tune.

Porsche developed the V8 with fuel economy in mind. It's up to 30 percent more efficient than its predecessor thanks to the use of a start/stop system, and to a cylinder de-activation system that shuts down four cylinders when the turbo eight's full output isn't needed. Additionally, the company hints that the mill was designed with electrification in mind.

Transmission options include an eight-speed automatic with a torque converter, and an eight-speed dual-clutch automatic. At the time of writing there's no indication that the V8 can be bolted to a manual gearbox.