Things are moving fast in Maranello as Ferrari moves up the reveal date for its first fully electric vehicle. Previously, the company said it wouldn’t launch until sometime after 2025, though that’s no longer the case. According to Automotive News Europe, Ferrari’s head honcho, John Elkann, told shareholders that the company’s first EV would debut in 2025 instead.

A lot has changed in the auto industry since Ferrari said in late 2019 that its first EV would arrive sometime after the middle of the decade. The last few years have seen more and more automakers heavily investing in electric vehicles – from Ford to Mercedes. Those investments are driving down costs and improving EV performance, though we’re still years away from an electric Ferrari hitting the market. Ferrari had harboured concerns about the limits of battery technology and the long recharge times.

Gallery: 2020 Ferrari SF90 Stradale first drive

There are limited details about the company’s first EV, though a patent filing from early 2020 appeared to showcase the company’s intent. The company filed a patent for a four-motor, four-wheel-drive mid-engine car capable of supporting both fully electric propulsion and a hybrid. It wasn’t anything concrete, though it showed Ferrari was thinking about the future. Hybrids will play a role in the company’s future, too, with the automaker in 2019 wanting 60 percent of its cars sold by 2022 to be hybrids.

Ferrari launched its first hybrid in 2019, the SF90 Stradale, the company’s most powerful road car ever. The company paired a 4.0-litre V8 with three electric motors to produce 986 bhp (753 kilowatts) with a zero-to-60 time (96 kilometres per hour) of 2.5 seconds while offering 15 miles of all-electric range. It’s just the first step for the bespoke automaker as it navigates toward an electrified automotive future. We can’t wait to see what Ferrari reveals in 2025, but in the meantime, the three new models Ferrari is showing in the coming months will have to suffice.