The battle between the Prancing Horse and the Raging Bull is the most epic in the automotive industry, with Maranello and Sant'Agata always searching for ways to one-up eachother. (Which one is Borat and which one is his neighbor with the iPod mini depends on your perspective.) So with Ferrari preparing to release the F430 Challenge Stradale, Lamborghini wasn't going to be left holding its fedora. That's why reports are surfacing that Lamborghini is working on a new, lightweight version of the Gallardo.

Reviving the classic Superleggera name from Italian automotive history, the Gallardo Superleggera will shed "frills" from the cabin (for example sound insulation, thick glass, carpeting, power features, stereo, air conditioning and leather) and replace body panels with carbon fiber, a targeted weight savings of 220 lbs, bringing the total curb weight to less than 3000 lbs. However, unlike pre-Audi lightweight special Lambos, the Gallardo is expected to retain its all-wheel-drive.

Reports also suggest a slight increase in power (likely from a revised exhaust), adding an extra 10 hp that should help the leaner Lambo drop a good half-second off its 0-60 sprint.

Could this be the surprise Lamborghini has in store for us at Geneva? We'll find out next week.

[Source: Quattroruote via Motor Authority]