Thought by many enthusiasts as the ultimate modern Ferrari, the limited-edition Enzo will be a hard act to follow for the Italian automaker. The second-generation Enzo, also named after the brand’s famous founder, promises to take performance-and, surprisingly, efficiency-to a new level.

Like the original Enzo, the car’s successor will be a range-topping supercar aimed at immortalizing the legendary founder of the marque. Available only to select current Ferrari owners, the next-generation Enzo will serve as the brand’s performance and technology showcase.

Based-at least in concept-on the Ferrari Millechili show car (though the production Enzo replacement won’t carry that name), the performance car will be loaded with the technology learned from years of Formula One experience.

It is expected to be driven by a mid-mounted V8 engine, rather than the Maserati-based V12 that powered the Enzo which should easily exceed 700 horsepower. Though fuel efficiency is hardly a Ferrari selling point, the car must follow the more recent European Union standards, meaning a new emphasis has been rumored that Ferrari will use twin-turbocharging to make the most out of a smaller-displacement (think under 6 liters) V8 engine.

The key to addressing the fuel economy issue is to reduce weight and size significantly, which should bring the car well down from the just-over 3,000 lbs. of its predecessor; rumors out of Ferrari’s Maranello headquarters indicate that weight could approach 2,200 lbs. Improved aerodynamics, including adjustable front and rear spoilers, will not only help the new Enzo stick to the asphalt at maximum speeds, but it will also certainly reduce fuel consumption.

Its platform could go one of two ways: Either a heavily-modified version of the FXX race car’s architecture-itself a variation of the road-going Enzo-or a slightly longer version of the F430′s aluminum space frame.

Production will probably be at least as limited as the original Enzo, meaning no more than 400 of the 1 million Euro-plus supercars will emerge from Maranello when it goes on sale in over a year’s time.

What do you think about the illustrations of the 2011 Ferrari Enzo II? Please leave a comment.