There have long been rumors that Hyundai could be working on a new Hyundai Veloster N model and it looks like we are getting a little more information now.

According to Motorgraph, Hyundai could be working on a Theta III engine and that the 2.5-liter turbocharged version would be able to offer about 280hp with front-wheel drive and 300hp when in rear-wheel drive. Now, The Korean Car Blog has also released an image of a Veloster N prototype with the “2.5 Turbo ENgine T-GDI” engine in the back.

What we are wondering now is whether the vehicle will still be offering 280hp when it arrives or if Hyundai will be looking to offer a few other output options.

Hyundai has not made any official announcement yet but it was also added that the vehicle will come mated to a new transmission that will get some extra oil pump and accumulator.