Rumors of a Ferrari Dino revival have been swirling for years so it's interesting to learn Ferrari Far East Managing Director Dieter Knechtel has reportedly confirmed the company is working on a new GT model to be sold alongside the California T.

According to The Motor Report, Knechtel spoke on the sidelines of the Australian Grand Prix where he stated “There will also be another model after the California in the GT segment."  The executive declined to elaborate but noted the California T has been a huge success and has helped the brand to attract new customers including people who never would have considered buying a Ferrari.

The new car was mysterious absent from the company's five-year plan, but Ferrari chairman Sergio Marchionne has previously said a Dino revival is "not a question of if but when."

Little else is known about the model but reports have suggested the Dino will be a mid-engine sports car that has a biturbo V6 engine that develops approximately 500 horsepower.  Rumors have suggested this will enable the car to accelerate from 0-62 miles per hour in less than 3.5 seconds before hitting a top speed of roughly 200 mph.

Source: The Motor Report