This racing spyder, developed by Lancia on the initiative of Cesare Fiorio and Claudio Maglioli, exploited the precious experiences gathered with the Fulvia Coupé Sport Prototipo. Named F&M, the car was based on the Fulvia HF and was lightened to the maximum, very competitive with a 1600cc engine. The car was particularly suited to races such as the Nurburgring 1000km, the Targa Florio or the Mugello. In 1970, an evolution (F & M2) was prepared. In total, two F&M and one F & M2 were built; the latter was sold at the end of 1971 to Matteo Sgarlata.