The SV or "Sport Veloce" variant of the Diablo was an optional add-on package to the base car. It lacked the VT's all-wheel-drive system and electronic suspension, but it featured the VT's revised dashboard and larger brakes, a new 3-piece adjustable spoiler and was powered by a modified version of the 5.7-litre V12 producing 510 hp (380 kW). The car's air intakes were slightly differently shaped, and from 1999 onwards the vehicle had exposed headlamps as opposed to the pop-up units previous versions used.
Tuning company Koenig-Specials of Germany produced a tuned variant of the SV featuring further suspension modifications, massive brakes and a twin-turbocharger system, boosting the car's output to over 800 hp (597 kW).
Unveiled at the 1996 Geneva Salon, the SVR variant is a lightweight competition version of the SV, built for its pro-am one make series known as Diablo Supertrophy, which was intended to run for three years, with its inaugural round held as the support race to the 1996 24 Hours of Le Mans.
The SVR is 191kg less than the SV (1385kg) and boasts 540 hp (403 kW), mainly of a revised fuel injection timing and is the first Diablo to use variable valve timing. There are numerous noticeable cosmetic differences, the covered lights or sometimes is used in place of its usual retractable headlights. Other cosmetic differences includes, a deeper front spoiler, side skirts and a redesigned rear valance. Also the most visible modification is a fully adjustable rear aerofoil, lightweight acrylic side windows is used in place of a glass items and a set of 18-inch OZ Racing one-piece hollow spoke cast magnesium wheels Each car sold, came with a seasons factory support and an entry to the one-make series. All repairs and maintenance was carried out by Lamborghini themselves.
The series first title winner was BPR regular, Thomas Bscher, who became involved with the business side of the brand in later years. In total, 31 versions of this model have been produced altogether. Only a few of these have been modified for road use.