What you see in the pictures is Ferrari’s F12 M, a replacement for Ferrari’s F12 Berlinetta that was shot testing at Maranello in Italy. This version is expected to be the F12's mid-cycle update, just like how the GTC 4 Lusso replaced the FF.
Sources reveal that it is highly unlikely that the new F12 M will go the hybrid way as that will be reserved for the next generation of Ferrari V12s. Ferrari has plans to retain exclusivity for this model and will hence build only 799 units for the market. It will get the naturally aspirated V12 under the hood that dates back to the Enzo, and revised tuning will bump up the power output to 770bhp.
It is speculated that the rear steering system of the F12 TDF may also be incorporated, albeit with a less aggressive setup. Just like the Ferrari GTC 4 Lusso got a T version which borrowed the 488 GTB's twin-turbo 3.9-litre V8, we can safely anticipate the upcoming F12 M to follow suite. Ferrari may probably unveil the F12 M at the 2017 Geneva Motor Show, so stay tuned for more information.