Antonio Castellana designed the car for Vittorio Ghidalla. The project would be run by Giuseppe Bizarrini and the car would be build by CarPlast, Ford Sierra Cosworth engined. Rumours said it would become a FORD.
sources: Autocar 9th August 1989. Auto Motor und Sport number 20-1989 showed exact the same drawing as in this puzzle.
In 1982 Ford launched a project codename GN34. Another contender was Giugiaro (Ital Design) with the 'ME 230', engined by a 2.5 liter version of the Mustang SVO. (source: cars that never were, consumer guide,page 103).
But is stated before, the 'ME 230' is an other contender for this project!!