According to Autoblog Japan, the Final Concept is based on the Evolution GSR model and will feature a highly modified version of the car's 2.0-litre turbocharged four-cylinder petrol engine.
Featuring an HKS turbo, as well as new intake and exhaust systems, reworked ECU and an uprated cooling mechanism, the engine has been tuned to deliver 353kW to all four wheels via a standard five-speed manual transmission.
That's 63 per cent more power than the 217kW offered by Evolution models sold in Australia. It's unknown, at this stage, how much torque the Final Concept is capable of unleashing, but the standard car has 366Nm on hand.
The Final Concept rides on HKS' height-adjustable Hipermax Max4 SP suspension, attached to which is a set of lightweight 19-inch RAYS alloy wheels shod with Yokohama Advan Neova AD08R rubber.
Last year Don Swearingen, a vice president at Mitsubishi's North American arm, confirmed that the three diamond brand was planning a special limited edition send off for the Lancer Evolution, which would be packed with a more powerful engine, suspension mods and a five-speed manual transmission.