Ferrari has announced plans to reveal the "149M Project" on February 12 and most likely it has something to do with the California.
From our knowledge, the current generation of the California is codenamed F149 which indicates this new model will have something in common with the hardtop convertible. The "M" lettering stands for modified so the new model will likely be an evolution of the current California, just like the 550 Maranello was upgraded and received the 575M Maranello moniker.
The new/improved California will most likely receive a twin-turbo V8 3.8-liter engine from the Maserati Quattroporte tuned to deliver 552 HP (406 kW). Looks will be influenced by the F12 Berlinetta and the retractable hard top will be kept while the interior is going to be thoroughly modified.
A public debut is schedule for March at the Geneva Motor Show, with deliveries kicking off in May.