This story might generate a special session of the United Nations Security Council. It is the type of event that might cause unrest worldwide, unrest among car enthusiasts that is.

Ferrari is considering putting their dancing horse on an SUV. I would assume a red SUV that will compete with the Porsche Cayenne.

Called project F151, a blatant statement about a concept SUV would have Ferrari fanatics foaming at the mouth, seems to be in the cards as Ferrari execs want to increase the bottom line and view with envy the success of the Cayenne.

With a practical interior, excellent storage capacity and rough and off road ability, the model would open the Ferrari range up to a huge new customer base. Still in its early stages, the project is yet to be given the green light by bosses nervous of tarnishing Ferrari’s legendary brand image.

Although no photo has been released, the facsimile seen here has been floating around cyberspace.

While designers face the challenge of making the Ferrari beautiful, engineers have to make it live up to the firm’s dynamic reputation. Powerplants are yet to be determined, but it’s thought that the Ferrari will be offered with a choice of V8 and V12 engines from the firm’s existing stable.

The four-wheel-drive transmission will be a more difficult challenge. With no system of its own available, Ferrari will almost have to strike a deal with a rival to provide the technology.

If the F151 gets the go-ahead, the Ferrari will be revealed in concept form in 2010 before going on sale a year later.