On Tuesday, Ferrari unveiled the 849 Testarossa sports car, completing the rejuvenation of its hybrid series. This model pays homage to the iconic Testarossa from the 1980s.

The new plug-in hybrid with all-wheel drive made its debut in Milan, intended to succeed the 2019 SF90 Stradale as Ferrari’s flagship model. Additionally, a retractable-top ‘spider’ version will also be offered.

The sports car is powered by a mid-rear 4-liter, eight-cylinder turbo engine generating 830 horsepower, which is paired with three electric motors to deliver a combined output of 1,050 horsepower, surpassing the SF90 Stradale by 50 HP. Ferrari announced that the car can achieve a maximum speed exceeding 330 kilometers (205 miles) per hour.

The starting price is set at 460,000 euros ($540,000) for the coupe and at 500,000 euros for the spider version, with first deliveries to clients scheduled respectively in the second and third quarter of next year, starting with Europe.

Deliveries to US clients are expected to start some three months later, at higher prices due to import tariffs.

Ferrari, led by CEO Benedetto Vigna, is rolling out new models while also preparing to start next month to showcase its first electric vehicle, part of a three-stage process culminating in a world premiere next spring.

It will break Ferrari’s tradition of roaring petrol engines, although Vigna has reaffirmed the company would continue to make petrol and hybrid cars, along with EVs.

Ferrari in April launched the new hybrid 296 Speciale and its convertible version, based on the 2021 Ferrari 296, the house’s other hybrid model, now approaching the end of its life cycle.

As part of its typically aggressive path of new model releases, Ferrari in July also presented the purely petrol-powered Amalfi coupe, replacing and upgrading the successful 2019 Roma in the entry segment of its range.