No, it’s not the 918! The 918 is now being prepared for production. This new model is apparently Porsche’s answer to cars like McLaren MP4-12C and Ferrari 458 Italia.

So it slots between the 911 and the 918 and will be mid-engined. It can also get a roadster variant. It will also share lots of its parts, up to 60 percent of them, with other cars in Porsche’s growing range to save costs. That’s because Porsche wants it to be a more regular model than a limited edition, high-end hyper car.

All that is still a wet dream in Porsche officials’ head. But if Volkswagen’s managers give it a green light, they can quickly get around making it as the project is now far beyond early sketches and calculations.

Porsche is looking to expand its lineup even further. There’s has been rumors about an entry-level roadster which is yet to be introduced, a small SUV which we know is coming in 2013 named Cajun, and a smaller version of the Panamera allegedly called the Pajun, destined for 2014 launch. So the new supercar could be the fourth new addition to the lineup of German sportscar maker. And it’s so good they finally turned attention to making sportscars agian.

We’re looking to extend the range,” Porsche boss Mathias Muller revealed in a recent interview. “We’ve got an idea to do another mid-engined model. We’re thinking above the 911 but below the 918 Spyder.”Muller suggests that the new supercar has already progressed beyond the initial drawing board stage. “We have ideas on styling and design, which we will continue to develop in the coming months,” he revealed. “We’ll also evaluate the economic side and then decide [whether to push ahead].”

More details: Autocar