Sergio Marchionne claimed in January that Ferrari will be the first on the market with an electric supercar. Please don’t expect to see such a model from the ‘Italian red’  before 2023.

The Ferrari chairman told reporters that Ferrari won’t launch an electric car until after its new five-year business plan is complete. Marchionne said Ferrari will be first with an electric supercar, though Tesla aims to launch its second-generation Roadster by 2020.

The new business plan will be announced in September

Ferrari will focus on plug-in hybrid technology in the meantime. The company is developing a plug-in hybrid powertrain that will debut in an unspecified model, likely the 488 successor. Italian design house Pininfarina also plans to launch an electric supercar in 2020.