Italian luxury sportscar maker Ferrari on Thursday outlined an electrification strategy that calls for 40% full-electric vehicles and 40% hybrid models by 2030. CEO Benedetto Vigna confirmed that the first electric car will be presented in 2025, with the first deliveries the following year.

Now, just four Ferrari models, or 20% of the range, are hybrid cars. Its first hybrid model was the limited edition La Ferrari launched in 2013, capitalizing on Formula 1 technology. Vigna, a former technology entrepreneur who joined Ferrari as CEO nine months ago, said the electrification strategy is “highly relevant.”