By January 1970, Ferrari had built a series of twenty-five Ferrari 512 S racing cars for homologation purposes, just like Porsche had done in 1969 with the Porsche 917. This meant that dozens of high powered mid-engined race cars were available. Ferrari could not race or sell all of the manufactured cars, and gave chassis number 1046 (the 23rd car) to Pininfarina.
The Modulo was the last in a series of studies. The concept car has an extremely low body with a Canopy-style roof that slides forward to permit entry to the cabin. All four wheels are partly covered. Another special feature of the design consists of twenty-four holes in the engine cover that reveal the Ferrari V12 engine.
The Modulo is a working car, although the limitations of the bodywork prevent it being practical or road legal.