Ferrari has taken the wraps off its new high-performance sports car, the 488 GTB, which is expected to replace the 458 Italia in GT racing competition over the next two years.

The successor to the highly successful Prancing Horse will feature a 3.9-liter twin-turbo V8 engine, which will produce an estimated 670 horsepower on the street.

The car, which takes lessons learned from both the Italian manufacturer’s Formula One and FIA World Endurance Championship programs, features 50 percent more downforce and reduced drag of the 458.

While no word has been made on when the car will go on sale, it will be presented during the Geneva Motor Show in March.

A GT3-spec version of the car is expected to debut first, likely next year, with a GTE model reportedly in the pipeline for 2017.

New regulations due next year, however, could speed up the development of the GTE version.