During Ferrari's press conference in Detroit this January, the Italian stallions will be pulling the wraps of a new 2+2 coupe-cabriolet, complete with a folding hardtop.

Built off a stretched version of the next generation F430's aluminum architecture, the "F149" 430 GT California will have a 450 HP direct-injected 4.3-liter V8 mounted up front, sending power to the rear wheels via Fezza's F1 "Superfast" sequential gearbox. A six-speed manual will also be an option when sales begin in late 2008.

The setup is designed to take aim at Aston Martin's V8 Vantage, making it the least expensive Ferrari in the exotic automaker's stable – around €130,000.

This is not, however, the rumored "Dino" model, as that particular coupe will have a 3.5-liter V6 mounted amidships and will be priced around €100,000 when it goes on sale in 2009.

[Source: 4Car]