Lamborghini’s entry-level Gallardo supercar has been on the market relatively unchanged for almost five years now, so as part of the car’s midlife update designers will be giving it a slight facelift and add a new flagship version as well. Set to appear at next month’s Geneva Motor Show, Lamborghini is tipped to unveil a new high-performance Gallardo LP550 complete with a 5.2L V10 powerplant.

The new engine will feature FSI direct-injection technology and develop up to 550hp and 390lb-ft of torque, 30hp and 15lb-ft more than the current 5.0L mill, reports Edmunds. Engineers will be utilizing some of the technologies developed for the powertrain in the R8 and upcoming RS4, including significant changes to the gearbox and permanent all-wheel-drive system.

The LP550 will be available with both a manual or optional e-gear sequential transmission, both of which have been revised to send more power and torque to a lighter and more efficient AWD system. Chassis stiffness and brake components have also been improved, according to the source.

The facelifted model will feature totally new front and rear bumpers but most of the car, including the interior, will be left relatively unchanged. Pictured above is a race-spec version of the current model, which competes in the GT3 class.