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The Macchi M.C.201 was the designation given to a single prototype of an improved version of the Macchi M.C.200 Saetta. The new aircraft was produced by modifying the fourth from last aircraft in the seventh production batch of M.C.200s, giving it a slightly modified fuselage, and bulged fairings over the nose guns. The prototype was powered by the same 870hp Fiat A.74 RC 38 radial engine as the M.C.200, but production aircraft would have used the more powerful 1,000hp Fiat A.76 RC 40. Development of the M.C.201 was abandoned after Macchi began work on the M.C.202 Folgore, which was powered by a licence-built version of the Daimler Benz DB 601A inline engine.