Porsche rolled out its street-legal, but track-ready 911 GT3 RS at the Geneva Motor Show.

Porsche made it clear it would be debuting two new models the Geneva Motors Show: the new Cayman GT4 and something else. That “something” is the new 911 GT3 RS.

The German maker’s latest entry is powered by a 4.0-liter flat six putting out 500 horsepower, 338 lb-ft of torque, and a zero-to-60 mph time of about 3.1 seconds and perfectly street-legal and track-ready.

That mix of power and speed comes from Porsche’s efforts to make the new RS lighter. The roof is made of magnesium; carbon fiber is used for the engine and luggage compartment lids, and other components are also made of weight-saving materials.

These efforts cut 22 pounds from the RS compared with the 911 GT3. A side benefit of the lighter roof is that it improves the car’s handling by lowering the center of gravity. The body comes from the 911 Turbo, and it signifies its status as a race-inspired driving machine with its RS-specific aerodynamic enhancements. The front spoiler lip, which sits close to the ground, and the large rear wing reinforce its dominant look, according to Porsche.

The Porsche Cayman GT4 joined the 911 GT3 RS on the stage in Geneva.

Making it lighter wasn’t the only think Porsche did to improve the GT3 RS’ drivability. It’s been tuned to for best performance and has rear-axle steering and Porsche Torque Vectoring Plus with fully variable rear axle differential lock. It’s also got a wider track in front than at the rear, which reduces body roll even further than in the 911 GT3. In addition, the 911 GT3 RS comes with the widest tires of any 911 model.

However, since this new model also spends some time on the roadways, Porsche borrowed from the GT3’s Alcantara elements. One key new feature is the full bucket seats, which are based on the carbon bucket seats from the 918 Spyder. The optional Sport Chrono Package features – in addition to its integrated timers – the Porsche Track Precision app for smartphone use.

The app can measure track times using GPS and then log the data to a smartphone, including vehicle speed, lateral acceleration as well as deceleration and acceleration in the driving direction. The driver share and compare it with results from other drivers. The 911 GT3 RS can be ordered now, and it will launch in the U.S. in early July of 2015. In the United States, the MSRP is $175,900, not including a $995 destination charge.

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Not to be pushed to the side, the Cayman gets a substantive refresh as well. It gets a 3.8-liter flat-six engine originally developed for the bigger 911 Carrera S, here producing 385 horsepower. The GT4 launches from zero-to-60 in 4.2 seconds, according to the manufacturer, and tops out at 185 mph.

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There’s a completely new front end with a lowered front spoiler and an additional air outlet atop the hood. The Porsche Cayman GT4 also gets a rear wing to increase downforce. In fact, notes the maker, it will be “the only Cayman with downforce at both axles.”

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Other aerodynamic enhancements include new side inlets and a rear-bottom diffuser. The GT4 body will ride 30 mm, or just over an inch, lower than a standard Cayman. And to scrub off speed after a high-speed straight, the new model will be fitted with an “extra-large” brake system.

Expect to pay $85,595, including destination fees, once it reaches U.S. showrooms.