Ferrari won’t be releasing an electric car for quite a while, it seems

The company’s battery tech is “not where it should be yet.”

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Ferrari is taking its sweet time getting into the electric car game. During a recent lunch at one of Ferrari’s factories, CEO Louis Camilleri said not to expect an electric vehicle from the company before 2025.

Still in progress — According to Camilleri, Ferrari’s battery technology is “not where it should be yet.” He went on to say that “there are still significant issues in terms of autonomy, in terms of speed of recharging.”

Ferrari does have hybrids, though. The company has said that it hopes 60 percent of its cars will be hybrids by 2022. The company’s first hybrid car, the SF 90 Stradale, was revealed earlier this year.

A history of pushed timelines — Previously, Ferarri said a fully electric vehicle wouldn’t be available until its current industrial plan ends in 2022. But that’s a few years off from Camilleri’s new estimate of “post-2025.”

This abstract answer sounds an awful lot like the company has no actual plans for a fully electric vehicle — especially because Camilleri later added that Ferrari would stick to hybrid vehicles for the “current foreseeable future.”

Camilleri also said the company is looking into alternative technologies such as hydrogen and biofuels.

Mostly, though, the Ferrari CEO was happy his company earned $1.4 billion this year. “We’re about to close another record year,” he said. “So you’ll see a lot of smiling faces around here.”

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