Porsche's second Panamera hybrid could receive the Turbo S nameplate.

Porsche will expand the Panamera lineup with a second hybrid model, according to a recent report coming out of Australia.

The current Panamera 4 E-Hybrid (pictured) uses a 2.9-liter V6 engine and an eight-speed automatic transmission. The second variant will up the ante with a turbocharged 4.0-liter V8, according to Australian website Motoring, and it could receive the Turbo S nameplate. Final specifications haven't been announced yet, but the model will be one of the fastest and most powerful members of the Panamera lineup.

While Porsche has confirmed that the Panamera lineup will grow to include at least two models, whether one of them will use a turbo V8 is still up in the air. However, we know that the second model will use the same electrified components as the 4 E-Hybrid.

"Changing the battery or the e-motor is something more difficult. It's not so easy because of cooling and those sorts of things," explained Robert Hahle, the Panamera's electronics director.

Right now, Porsche is putting the final touches on the shooting brake variant of the second-generation Panamera that will debut in March at the Geneva Auto Show. Hybrid number two will be shown "sooner rather than later," according to Motoring, so it might break cover in April during the biennial Shanghai show.