Ferrari, electric cars in 2025.

Ferrari will unveil an electric car in 2025, Chairman John Elkann said at the company's annual meeting on Thursday.

The news of a Ferrari electric car is not a big surprise, as patent drawings of a modular electric drive system submitted by Ferrari were discovered last year.

Elkann did not reveal details about the car, but in 2019 former CEO Luis Camilleri said the company was studying the possibility of a grand tourer-style car, suggesting it would not be a supercar like the upcoming Lotus Evya or Rimac C_Two

The company is also working on a new car for the next generation.

Camilleri, who retired from Ferrari last year for personal reasons, also said in 2019 that an electric Ferrari would eventually appear, albeit after 2025.

At Ferrari's annual general meeting, Elkann also said that the search for Camilleri's successor is underway and that the lucky man or woman will give an update on Ferrari's future plans at a capital market day presentation in 2022.

Recent rumors have indicated that Ferrari's first EV will be a crossover, which makes some sense as heavy batteries are less likely to negatively affect the performance of a crossover than a supercar. Ferrari plans to unveil its first crossover, the Prosangue, next year, and rumor has it that the platform of this prancing horse is designed to support an electric powertrain.

Ferrari has toyed with the idea of launching an electric car in the past, but stricter emission regulations and changing market trends seem to have convinced the company of the need for an electric vehicle. The company previously cited a lack of suitable battery technology as the main hurdle.

Ferrari is still a few years away from going electric, but in the meantime the company will focus on plug-in hybrid technology. The company just unveiled the plug-in hybrid SF90 Stradale and aims to have 60 percent of its lineup electrified by 2022. The company is also exploring further alternatives, including the use of hydrogen and biofuels.