Porsche's CEO, Matthias Muller, has confirmed a new model based on the classic 500 roadster. This neo-550 will slot in under the Boxster as a new entry-level model and will cost about $40k. The added bonus is that it's going to be mid, not read, engined. Seeing as this is going to be a mid-engined sports car sporting a turbocharged 1.6l four-pot good for around 200 horses, it's looking like the Alfa Romeo 4C is going to have some competition when it finally arrives.