What's the story? Italian tuner Gran Torino Engineering produced the Giannini 350 GP to celebrate its centenary.
The original Fiat 500 1.2-litre naturally aspirated engine has been replaced by a turbocharged 1.75-litre engine out of an Alfa Romeo 4C and placed into the rear. This engine usually produces 178kW of power, but has now been boosted to 260kW with power coming from the rear wheels.
Other modifications include Brembo brakes with six-piston calipers on the front axle and four-piston at the rear. The push-rod suspension can be admired through a bonnet cutout.
Of course, the most noticeable addition is the in-your-face carbon fibre body kit with plenty of air intakes. A nice salute to the classic Fiat 500 are are air vents below the rear window.
Filling out the wide wheel arches are 19-inch wheels, and huge spotlights and a wing on the roof give it a rally appearance.
The best part? You can purchase one of these pocket rockets, but at a hefty price and in strictly limited numbers. Only 100 units will be produced, with prices starting from a jaw-dropping AUD $226,000.