The Ferrari SF90 Stradale, the fabled marque’s first PHEV (Plug-in Hybrid Electric Vehicle) and its most powerful production car ever, will see its first deliveries in 2021.

Ferrari admits to building the SF90 as a challenger to Tesla Inc. in the high-end, eco-conscious luxury market. Ferrari Chairman and CEO Sergio Marchionne’s belief that only high-end electric vehicles (EVs) can be profitable explains why Ferrari is releasing the first EV for Fiat Chrysler Automobiles N.V. (FCA). Marchionne is also CEO of FCA.

Marchionne said Ferrari will release the SF90 before the Tesla Roadster comes off the line in 2020.

“If there is an electric supercar to be built, then Ferrari will be the first,” according to Marchionne. “People are amazed at what Tesla did with a supercar. I’m not trying to minimize what Elon did but I think it’s doable by all of us.”

Marchionne’s sudden acceptance of EVs is amazing since he was formerly one of the most vocal detractors of these machines. He also saw no reason why traditional automakers like FCA should spend billions of dollars on EVs.

“I don’t know of a [business] that is making money selling electric vehicles unless you are selling them at the very, very high end of the spectrum,” said Marchionne.

The SF90, a two-door supercar, draws power from a 3.9-liter V8 engine and three electric motors, which combined can produce 986 horsepower. Two of the three electric motors drive the car's front wheels while the third is attached to the gasoline engine mounted behind the seats. It’s eight-speed transmission similar to that in a Formula 1 racecar.

The SF90 will accelerate from zero to 60 miles an hour in just over two seconds. It can reach a top speed of 211 miles an hour.

The berlinetta sports car can be driven in full electric mode for up to 15 miles and can hit 84 miles an hour using only its electric motors.

Ferrari competitors BMW and Porsche plan to introduce their own all-electric supercars over the next years. BMW said it will design a purely battery-electric version of its i8 Roadster. On the other hand, Porsche said its Mission E all-electric 4-door coupe is expected to go on sale in 2019.

Ferrari
Sebastian Vettel (R) overtook Lewis Hamilton on the Kemmel straight on the opening lap and won convincingly in Belgium. In this picture, Vettel of Germany driving the (5) Scuderia Ferrari SF71H leads Hamilton of Great Britain driving the (44) Mercedes AMG Petronas F1 Team Mercedes WO9 on track during the Formula One Grand Prix of Belgium at Circuit de Spa-Francorchamps, Aug. 26, 2018. Dan Mullan/Getty Images