Yesterday photos of a new Lamborghini model surfaced on the web and today Lamborghini has confirmed that the new model is indeed the LP550-2. But there is more to the story than that. The new model is officially named the LP550-2 Valentino Balboni, after the former Lamborghini test driver turned brand ambassador.

Balboni was hired by Lamborghini in 1967 by Ferruccio Lamborghini himself. His driving expertise has helped to fine tune cars like the Miura and since 1973 he has driven every prototype the exotic Italian automaker has created.

Balboni's motto is that, "A Lamborghini must always combine the precision of a race car with the reliability of a good friend."

In keeping with Balboni's automotive enthusiasm the LP550-2 makes 550hp at 8000 rpm and 398hp at 6500 rpm. What is truly exciting, however, is that this model, as the "2" in the name suggest, is rear-wheel drive. Even more exciting, it weighs just 3,042 lbs!

Those two factors combine to offer a 0-60mph time of 3.9 seconds and a top speed of 199 mph.

Lamborghini completely re-engineered the LP560-4 to come up with this special edition model. With the lighter weight and rear-drive layout new springs, shocks, sway bars and even tires are required. Even the aerodynamics have been changed slightly. Lamborghini also reprogrammed the ECU to work better with the rear rear-drive setup and new limited-slip-differential, allowing for significantly more sideways action in the high-performance CORSA mode.

Other highlights include a clear engine cover, a backup camera, a navigation system, Bluetooth and a hydraulic air suspension for the front axle.

The special edition LP550-2 Valentino Balboni will be offered in eight colors including Bianco Monocerus, Verde Ithaca, Arancio Borealis and Nero Noctis. The wheels will come in dark gray with the brake calipers in either black, orange or yellow.

In total, just 250 units of the LP550-2 Valentino Balboni will be built at a cost of $219,800.
More: Lamborghini Officially Announces LP550-2 Valentino Balboni on AutoGuide.com