If you’ve been holding off an electric vehicle  because you felt like they just didn’t have enough oomph, the car of your dreams may be on the way.

Even though automakers like Tesla have produced all electric cars that are certainly top of the line, Fiat Chrysler’s CEO Sergio Marchionne recently announced a new vehicle to top them all: an electric Ferrari. Speaking at the Detroit Auto Show last week, Marchionne said the company would most likely develop a hybrid engine Ferrari first and then use that tech to create a fully electric version.

Marchionne acknowledged what Tesla did, and said Ferrari wasn’t trying to minimize their work, but said “If there is an electric supercar to be built, then Ferrari will be the first.” This news comes not too long after Ford announced their plans for a high performance electric SUV.

Since they were first to market, Elon Musk’s Tesla didn’t just set the standard for a luxury electric car, but they’ve controlled it for years. And a chargeable Ferrari would be the first real chance for someone to take a piece of that market.

Like most people, Marchionne admitted that he was skeptical of alternative engines for years. But he now realized the time is right for a change in the industry. By the year 2025, he believes, less than 50% of all new cars sold will be be traditional, fully gas or diesel powered engines as those give way to hybrid and electric versions.

It’s still way too early for statistics or even a concept, so we’re struck simply dreaming about what an all electric Ferrari might look like. While a lot of gearheads have scoffed at the idea of an all electric car having comparable power, the fact that a supercar maker like Ferrari is even addressing the issue of an all electric vehicle shows just how far the technology has come.

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