We’ve heard plenty of details about Ferrari’s plans for its 458 Italia mid-cycle update due next year, but the FF is almost as old, having first hit the scene in 2011, and should be receiving its own mid-cycle update in 2016. We now have some news on the updated FF, courtesy of a report from British publication CAR.

According to the report, the updated FF will maintain a naturally aspirated V-12 but will have an output close to 700 horsepower instead of the current 651-horsepower rating. The car will also maintain its 4RM all-wheel-drive system albeit with revisions to enhance performance.

A new V-8 option is said to be in the hopper, to increase the car’s appeal, though the move would be strange given Ferrari’s preference for only a single engine for its respective models. Instead, we may see the V-8 reserved for a more coupe-like FF variant rumored to be in the works.

The final mechanical update is said to be a new eight-speed transmission instead of the FF’s existing seven-speed dual-clutch unit. The extra gear will allow a tall overdrive in top gear to reduce fuel consumption and help Ferrari reach its emissions targets.

As for the styling, this is likely to feature only evolutionary updates, like those we saw in the California’s transition into the California T. Interestingly, the report states that we could see some carbon fiber and other composite materials employed above the waistline to help lower the car’s center of gravity.