The cars mark the start of a new lineage of models called the "Icona" series, a program aimed at creating special cars inspired by classic Ferrari models, all to be produced in limited series.

Both the SP1 and SP2 are powered by a variant of the naturally aspirated 6,496 cc (6.5 L; 396.4 cu in) F140 GA V12 found in the 812 Superfast.

[6][7] The chassis is loosely based on the 812 and both the SP1 and SP2 cars feature carbon fibre composite bodywork.

[9] The SP1 and SP2 feature low slung, carbon fibre speedster bodywork inspired by early, post-war Ferrari race cars such as the 166 MM, as well as the 250 Testarossa and 750 Monza.

[10] The SP1 is a single-seater, with the driver's position situated to one side of the car, while the SP2 has two seats separated by a center section.